Profit after tax of Al Ghazi Tractors declines

KARACHI: The profit after tax of Al Ghazi Tractors has declined to Rs 1.233 billion in the nine month period ended September 30, 2011 as compared to Rs 1.344 billion earned in the same period in 2010.

The board of directors of the company in its meeting held on October 18, 2011 declared that the earning per share (EPS) of the company has reduced to Rs 28.72 in the period under review against Rs 31.31 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the company’s sales declined to Rs 8.747 billion in this period against Rs 10.989 billion in the same period last year.

The cost of goods sold reduced to Rs 7.088 billion against Rs 8.863 billion.

The company’s profit before taxation declined to Rs 1.823 billion in the nine-month period in 2011 against Rs 2.047 billion in the same period in 2010.

On quarterly basis, the company’s profit after tax declined to Rs 101.191 million translating into earning per share of Rs 2.36 in the quarter ended September 30, 2011 as compared to after tax profit of Rs 346.328 million with Rs 8.07 EPS in the same period in 2010.

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