Hinopak Motors earns profit

KARACHI: Hinopak Motors Limited earned a net profit of Rs191.324 million for the quarter ended December 31, 2017, which is 135 percent lower than the profit of Rs449.328 million during the same period of the last year, a statement said on Friday. The earnings / share (EPS) clocked in at Rs15.43 for the quarter under review as against EPS of Rs36.123 during the same period of the last year.

The company did not announce any payouts along with the corporate announcement. The decline in profitability can been attributed to higher finance cost, which stood at Rs241.35 million during the quarter. The sales revenue for the quarter ended December 31, 2017 stood at Rs5.924 billion as compared to the revenues of Rs4.84 billion during the corresponding period of the last year.