One of the largest automaker in Pakistan is Pak Suzuki Motor Company (PSMC) which has almost an enormous amount of shares in the market. Pak Suzuki Motor Company (PSMC) disclosed its 3rd quarter earnings of Rs. 1.1 billion that is further amplified by 152.18% when evaluated with Rs. 438 million after tax corresponding the same period last year,These figures were the data sent on Tuesday to Pakistan Stock Exchange (PSX).
This figure produces an EPS of Rs. 13.43 when measured up to Rs. 5.32 in the corresponding period of time last year.The gross profit is increased by 108% due to the amplification of sales profit in this quarter.
High sale volumes have resulted in the expected amplification in earnings and by this the company’s volumetric sales boosted 30% YoY and 12% QoQ.
PSMC which have power over 54 percent of the cars and pickups in market, observes an extraordinary boost in sales of Mehran, WagonR and New Cultus.These contend with quite a lot of imported diversities building around 70% of the total sales volume.
In Q3 2017 a total of 32,777 units have been sold by PSMC, in which Mehran sales reached 10,516 units and Suzuki Wagon R stayed on the top to be the most inspiring with 5,789 units, up 77% YoY.
Cultus, on the other hand also speculated a 56 percent growth in this quarter .This is quite astonishing for many of us. We are quite well aware of the fact that the locally manufactured cars are over and over again well liked by consumers because they have tried and tested a sturdy and reasonable spare part market that has a good resale value.
Suzuki has also laid its hand on importing the SUV Vitara and Ciaz in sedan class just to see the market response however sales numbers are not presented to us.
The profit for the nine months was also proclaimed by Suzuki at the end of September 2017 and it boosted by 65.24% to Rs. 3.09 billion when evaluated to Rs. 1.87 billion in the same period last year.
So the total earnings per share (EPS) of Rs. 37.63 when evaluated to an EPS of 22.77 for the duration of the same period last year.
The outcome was well amalgamated with the prospect of the market.The share price of Pak Suzuki at the instance of filing the mentioned report was lowered by 1.59%, trading at Rs. 488.55.
