Millat Tractors Limited, the largest tractor producer in Pakistan, has announced a remarkable profit of Rs10.64 billion for the financial year ending on June 30, 2024. This represents a 167% increase compared to last year’s profit of Rs4 billion.
The company’s revenue also saw significant growth, rising to Rs95.02 billion, which is a 101% jump from the previous year. This surge in revenue was mainly driven by a 62% increase in sales, with a total of 30,200 units sold during the year.
Earnings per share also improved drastically, reaching Rs55.46, up from Rs18.53 in 2023. Despite this strong financial performance, MTL is holding off on declaring dividends. The decision is pending approval from the Lahore High Court regarding the ongoing merger between Millat Tractors and Millat Equipment Limited.
This year’s outstanding results highlight MTL’s success in boosting sales and revenue, despite the company waiting on legal matters before finalizing its plans for dividend payouts. The impressive increase in both profits and EPS shows the company’s steady growth and strength in the market.
