Net profit of Rs3.82 billion has been announced by Pakistan’s largest carmaker, Pak Suzuki Motor Company (PSMC). The profit has been posted for the year ended on December 2017. Earlier in the same period last year, the profits were Rs.2.77 billion, less than 38% of the current figure. Last year earnings per share (EPS) were Rs.33.69 and it increased to Rs.46.49 this year.
A cash dividend was also announced at Rs.18.60 per share by company. The sales of a company have touched Rs.101.81 billion, an increase of 33.07% compared to Rs.76.51 billion last year. 84.24% year on year (YOY) rise in sales of Wagon-R and Cultus and increase in the prices of cars have contributed to the high revenue margins.
The gross profit of the company stood at Rs.9.65 billion compared to Rs.7.34 billion last year. Consumers have ease in finding spare parts and maintaining their Suzuki cars due to a good network of dealership maintained by Suzuki company. The decline in sales of Suzuki Bolan and Ravi can be attributed to an increased number of orders last year by a government for its taxi scheme. The volume of sales of Wagon R was the most attractive with 17671 units being sold in 2017 an increase of 82% YOY.
