A notice sent to Pakistan Stock Exchange (PSX) has stated that Pak Suzuki profits have increased. Pak Suzuki Motor Company is the top selling car manufacturer in Pakistan. Pak Suzuki profits have surged to Rs1.1 billion at the end of September 2017. If compared to last year there is an increase of 151% in Pak Suzuki profits.
The company incurred a net profit of Rs3.09 billion, up 65% compared with Rs1.87 billion in the same period of last year. Earnings per share (EPS) are Rs13.43. A report by Topline Securities report indicated that Pak Suzuki profits are well within the predictions of the year 2017.
Furthermore, the report added that the revenue grew 46% per year in the third quarter because of volumetric progress of 30% in unit sales, change in sales mix as sale of higher value units augmented and price also increased of Bolan and Ravi variants.
Moreover, the sales of Mehran, Wagon-R, and New Cultus have also increased. This has also contributed to increase in profits.
32,777 units were sold in the third quarter; sales of Mehran reached 10,516 units and sales of Cultus reached 5,181 units and Wagon-R touching 5,789 units.
Pak Suzuki has revealed another imported vehicle, the 1.4L Ciaz
The gross margins have increased by 277 basis points and reached 9.8% from 7.3% last year due to economies of scale.
Importantly, the revenue increased by 28% and earnings grew by 13% per year in the first nine months of the year.
