Millat Tractors Q2 profit rises 46.4pc

Millat Tractors Limited has announced a net profit of Rs1.67 billion for the quarter ended December 31, 2017, which is 46.4 percent higher than the profit of Rs1.14 billion earned in the same quarter last year, a bourse filing said.

The earnings per share (EPS) for the period under review clocked in at Rs37.85 as against Rs25.91 during the same period last year. The company also announced an interim cash dividend of Rs60/share. Net sales during the period stood at Rs9.3 billion, up 27.3 percent from Rs7.3 billion during the quarter ended December 31, 2016. “Net sales surged given massive volumetric growth of 29 percent in tractor sales to 10,154 units along with the increase in prices of tractors by one percent to two percent, effective from December 2017,” Arslan Hanif at Arif Habib Limited said.