Tuesday, October 3, 2023

Pak Suzuki Records Rs. 9.6 Billion Loss in First Half of the Year Due to Sales Decline

Pak Suzuki Motor Company Limited, which is a big car company in Pakistan, had a big problem in the first six months of 2023. They lost a lot of money, about Rs9.68 billion. This happened because they couldn’t sell many cars due to limits on importing and not many people wanted to buy cars.

The company told the Pakistan Stock Exchange about the loss. It’s a lot more than the small loss they had last year, which was only Rs17.238 million. They also didn’t give any money to their shareholders as a dividend for this time.

Each share they have was worth a loss of Rs117.58, while last year it was only Re0.21. They got less money too. They earned Rs43.182 billion, which is a lot less than the Rs112.624 billion they earned last year.

But the cost of making the cars stayed about the same. In the last part of the time, until June 30, they made a bit of money, Rs3.238 billion. This was because they made more money from each car they sold and from finance.

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