Karachi, March 21, 2025 – Al-Ghazi Tractors Limited (AGTL) posted a Rs3.54 billion profit after tax in FY24, marking a 35.63% YoY increase from Rs2.61 billion last year. The company’s earnings per share (EPS) climbed to Rs61.11, up from Rs45.06, reflecting strong profitability.
Revenue and Profit Growth
AGTL’s revenue remained steady at Rs34.57 billion, registering a slight 0.09% YoY growth. However, gross profit surged by 31.32% to Rs8.43 billion. This increase came from a 7.04% drop in the cost of sales, which fell to Rs26.14 billion. Lower production costs helped improve profit margins despite flat revenue.
Also Read : Pakistan Achieves Landmark Success in Rice Exports to Kenya
Rising Expenses and Financial Adjustments
The company saw higher operational costs in FY24. Distribution expenses jumped 87.61% to Rs804.79 million, while administrative costs increased 35.68% to Rs1.47 billion. Other income declined 43.65% to Rs315.63 million, but AGTL cut other expenses by 24.73%, lowering them to Rs323.53 million.
Finance costs rose 25.36% to Rs446.77 million, adding financial pressure. Additionally, levy-final tax expenses surged 86.90%, impacting net earnings.
Profit Before and After Tax
Despite rising expenses, profit before tax grew by 21.78% to Rs5.71 billion. Income tax expenses increased slightly by 4.34%, reaching Rs2.16 billion. However, the company still managed a 35.63% net profit increase, driven by cost-cutting and efficient operations.
Business Outlook
AGTL’s strong financial performance highlights its resilience amid economic challenges. With a focus on cost management and operational efficiency, the company is well-positioned for sustained growth in the coming years.
