Pak Suzuki Quarterly Profits Fall from Rs. 1.15 Billion to Just Rs. 95 Million in 1 Year
Pak Suzuki Motor Company place a knit profit of Rs 1.39 billion for the nine months that ended September 2018, down by a compacted 55.04 % year-on-year as vying to Rs 3.09 billion in the same determination last year.
Pak Suzuki Earnings per share for the nine months came down to Rs 16.92 from Rs 37.63. Whereas in the 3rdquarter, the company echoes an aid after tax of just Rs 95 million, as the improve nosedived by 1124% as procure to Rs 1.15 billion in the same epoch last year.
Earnings per part for the quarter came down to Rs 1.15 from Rs 13.43.
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The increased loss, as well as assessment, were higher. Effective tax berate came in at 79% due to the applicability of turnover tax as opposed to tax on profits.
During the Q32018, the sales of the association grew 2.5% YoY to retch Rs 26.6 billion during Q32018 despite 7.20% YoY volumetric sink in sales(including 2 wheelers) due to cost hikes.
|3rd Quarter 2018 Volumes|
However, large advantage shrank by 353 base points YoY principally as a proceed of rupee depreciation of 20% compared to last year, with a higher rib of harden prices and rise in wear rate, which led to a 34% YoY drip in gross profitability.
Despite manifold price advance, Pak Suzuki the company’s price of sales rose by 7% YoY to Rs 24.93 billion. Administrative price also reddens by 67% to Rs 644 million in the 3rd quarter.
Moreover, other interest born 59% YoY which was on a recital of decrease bank settling in the current quarter.
PSMC’s part at the Pakistan Stock Exchange gripe at Rs 225.60, down by Rs11.87 (-5%) with an upset of 0.05 million dividends traded.
The approaching months do not look virtuous to the experts from an earnings appearance long of the swap degree, as the rupee drop against the US$ in Oct-2018 and while the other two other competitors have increased their prices, PSMC has still not stir excellence and if they do so, volumes could face an even more significant setback.