Millat Tractors profit after tax increases

RECORDER REPORT

KARACHI: The profit after tax of Millat Tractors has increased to Rs 354.471 million in the quarter ended September 30, 2012 as compared to Rs 244.407 million earned in the corresponding quarter in 2011.

The board of directors of the company in its meeting held on Wednesday declared that the company’s earning per share has increased to Rs 9.68 in the period under review against Rs 6.68 in the same quarter last year.

According to the financial results sent to Karachi Stock Exchange, the company’s net sales increased to Rs 3.481 billion in this quarter against Rs 2.341 billion in the same quarter last year. The cost of sales increased to Rs 2.946 billion against Rs 1.962 billion.

The company’s profit before taxation increased to Rs 480.556 million in this quarter against Rs 318.375 million in the same quarter last year.