Pak Suzuki posts sharp 285pc growth in first quarter

Pak Suzuki posts sharp 285pc growth in first quarter

KARACHI: Pak Suzuki Motors Company Limited on Thursday announced an unprecedented growth of 285 percent in gross profit to Rs2.21 billion during the first quarter (January – March) of 2021.

The company declared the gross profit of Rs573 million in the same quarter of the last year.

The sales of the company sharply grew to Rs36.1 billion for the quarter ended March 31, 2021 as compared with Rs17.74 billion in the same quarter of the last year.

With the higher sales, the distribution and marketing expenses of the company also increased to Rs710 million during the quarter under review as compared with Rs320 million in the same quarter of the last year.

The company declared profit from operations at Rs1.12 billion during January – March 2021 as compared with loss of Rs1.32 billion in the same quarter of the last year.

The net profit of the company was at Rs778 million during first quarter of 2021 as compared with net loss of Rs941 million in the corresponding quarter of the last year.

The company declared earnings per share at Rs9.45 for the period ended March 31, 2021 as compared with net loss of Rs941 million in the corresponding period of the last year.