Pak Suzuki Motor Company Limited (PSMC) has notified its 2021 financial results where it posted Net profit of PKR 2.7billion (EPS: PkR32.56) compared to loss of PKR 1.4 billion (LPS: PkR16.75) in 2020. This led to earnings per share of PKR32.56 vs Loss per share of PKR 16.75 in 2020. Pak Suzuki Motors also announced cash dividend of PKR 6.5/share for its share holders. Dividend came after pause of two years as company returned to Profitability after recurring losses.
The gross margin of the company improved to 5.1 percent compared to 4.3 percent in 2020. Margins have improved amid back to back price increase in past six months. High Freight Charges haven’t gross margins to increase substantially.
The Finance cost declined by 73% compared to last year owing to significant cash reserves of the company and retirement of short term borrowing. Higher profitability and higher advance booking amounts have enhanced liquidity profile of the company. This also led to 210%YoY increase in Other income.
Pak Suzuki Motors Company financial performance has significantly improved in December-2021 quarter amid massive price increases.
PSMC has also recently launched Suzuki Swift which is likely to further improve the profitability.
|PKR in Million||2021||2020||YoY|
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