Fakiha Tariq

Ghandhara Nissan Limited (GHNL) experienced a 170% increase in revenue and a 47% increase in gross profit during the first nine months (July-March) of fiscal year 2022-23 compared to the same period in the previous fiscal year., according to WealthPK.

During this period, GHNL recorded gross sales of Rs9.1 billion, a gross profit of Rs584 million, and achieved the gross profit ratio of 6.4%. The company posted a net profit of Rs113 million and a net profit ratio of 1.24% in 9MFY23. GHNL posted earnings per share of Rs1.99 in 9MFY23.

In comparison to the corresponding period of last fiscal, the automobile assembler showed a remarkable growth of 170% in revenues, which rose from Rs3.3 billion to Rs9.1 billion in 9MFY23. Likewise, the gross profit of Rs398 million in 9MFY22 jumped 47% in 9MFY23. However, GHNL’s net profit of Rs163 million declared in 9MFY22 dropped 31% to Rs113 million in 9MFY23.

Registered on Pakistan Stock Exchange (PSX) with the symbol ‘GHNL’, the company is the tenth largest firm in the automobile assembler sector with a market capitalisation of Rs1.9 billion.

GHNL – Quarterly Review – 9MFY23

Despite suffering a net loss in the first quarter (July-September), GHNI got back on track in the second quarter (October-December), pushing its profits to the highest level in the third quarter (January-March) of FY23.

In the first quarter, GHNL posted gross revenues of Rs2.9 billion and a gross profit of Rs55 million. However, the company posted a net loss of Rs78 million during this period. Therefore, the gross profit and net loss ratios were calculated at 1.9% and 2.68%, respectively. In 1QFY23, the company reported a loss per share of Rs1.37.

In the second quarter, the auto maker posted a gross revenue of Rs2.27 billion and a gross profit of Rs100 million. The company posted a net profit of Rs12 million. Therefore, the gross profit and the net profit ratios were reported to be 4.4% and 0.57%, respectively. In 2QFY23, the company reported the earnings per share of Rs0.23.

In the third quarter of FY23, the auto firm reported gross revenues of Rs3.9 billion and a gross profit of Rs429 million, resulting in gross and net profit margins of 10.8% and 4.51%, respectively. The company declared a net profit of Rs178 million. In 3QFY23, the company posted the earnings per share of Rs3.13.

Credit: Independent News Pakistan-WealthPk