Qudsia Bano

Ghandhara Industries Limited’s revenue from sales decreased 32% to Rs4.2 billion in the first quarter of the ongoing financial year 2022-23 (1QFY23) from Rs6.1 billion over the corresponding period of the previous fiscal. Similarly, the gross profit of the company decreased 39% to Rs528 million in 1QFY23 from Rs863.8 million recorded in 1QFY22.

The company’s net profit also decreased 82% to Rs79.9 million in 1QFY23 from Rs454 million over the corresponding period of FY22, shows a WealthPK analysis of the firm’s quarterly performance. The sales and profitability of the company were impacted by the unstable local and international economic environment.

Performance in 2021-22

During the fiscal year 2021-22, the company’s sales revenue increased to Rs24.26 billion from Rs14.99 billion in 2020-21, posting a growth of 62% year-over-year. The gross profit for FY22 stood at Rs2.95 billion, up 43% from Rs2.1 billion in FY21. The profit-after-tax for the year also went up by 19% to Rs713.9 million from Rs600.3 million in FY21.

The earnings per share (EPS) of the company in FY22 increased to Rs17.1 from Rs14.18 in FY21.

About the company

Ghandhara Industries Limited was incorporated on February 23, 1963. The firm’s principal activity is the assembly, progressive manufacturing and sale of Isuzu trucks, buses and pick-ups.

Credit : Independent News Pakistan-WealthPk