Pak Suzuki profit surges 37.9pc

Pak Suzuki Motor Company (PSMC) has announced a net profit of Rs1.306 billion for the quarter ended March 31, 2017, up 37.9 percent from the profit of Rs947.643 million during the same period of the last year.

The EPS clocked in at Rs15.88 during the quarter as against Rs11.51 during the corresponding quarter of the last year. The company did not announce any payouts along with the corporate results.

Sales revenue stood at Rs23.89 billion, up 19.5 percent as compared to Rs19.99 billion last year.

Misha Zahid in a report issued by Arif Habib Limited said that the revenue during the period under review witnessed a jump amid volumetric growth in the quarter, which surged 15 percent.

“While vehicle sales usually take off in the first quarter of the calendar year, we believe the demand also remained upbeat given the advent of popular taxi services, ie Uber and Careem.”