Introduction
In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs445.94 million during the quarter ended December 31 against Rs751.80 million reported during the same period last year. A decrease of of 41 percent, reportedly.
The Conundrum
A report of Arif Habib Ltd, a brokerage house, said the top line of the company increased by 73 percent due to raised vehicle prices. The company said its sales for the quarter increased to Rs29.53 billion, compared with Rs17.64 billion a year earlier. However, the cost of sales was recorded at Rs28.73 billion from Rs16.49 billion last year, which reduced the profits. Gross profit during the quarter was Rs801.13 million, down against Rs1.15 billion during the same period last year
