Fakiha Tariq

Panther Tyres Limited (PTL) reported an increase of 2% in sales and 20% in the gross profit during the first nine months (July-March) of the ongoing fiscal year 2022-23 compared to the corresponding period of the previous fiscal, WealthPK reports. During this period, PTL made gross sales of Rs14 billion and a gross profit of Rs1.7 billion, resulting in a gross profit ratio of 13%. The company posted a net profit of Rs101 million and a net profit ratio of 0.71%, respectively, in 9MFY23. PTL posted earnings per share of Rs0.60 during this period.

In comparison to the same period of FY22, the auto parts firm slightly moved the revenues up by 2% from Rs13.9 billion to Rs14.1 billion in 9MFY23. Likewise, the gross profit, which was Rs1.4 billion in 9MFY22, increased by 20% in 9MFY23. PTL’s net profit of Rs269 million declared in 9MFY22, however, dropped to Rs101 million in 9MFY23. The firm, listed on Pakistan Stock Exchange with the symbol of PTL, is the third-largest company registered in automobile parts and accessories sector with a market capitalisation of Rs3.4 billion.

PTL – Quarterly Review

Quarterly review of profitability reveals that PTL performed well in the recently-ended third quarter (Jan-Mar) of FY23 followed by the second quarter (Oct-Dec). Whereas, PTL bore a net loss in the first quarter (Jul-Sept) of the ongoing fiscal. In the first quarter, PTL posted gross revenues of Rs4.4 billion and a gross profit of Rs367 million. The company posted a net loss of Rs267 million during this period. Therefore, the gross profit and net loss ratios were reported to be 8% and 5.95%, respectively. In 1QFY23, the company reported a loss per share of Rs1.59.

In the second quarter of FY23, the auto parts firm posted gross revenues of Rs4.81 billion and a gross profit of Rs603 million. The company posted a net profit of Rs131 million during this quarter. Therefore, the gross profit and net profit ratios were calculated at 13% and 2.74%, respectively. In 2QFY23, the company reported earnings per share of Rs0.78. In the third quarter, the company posted gross revenues of Rs4.88 billion and a gross profit of Rs813 million. The company posted a net profit of Rs236 million. Therefore, the gross profit and net profit margins were calculated at 17% and 4.85%, respectively. In 3QFY23, the company posted earnings per share of Rs1.41.

Credit: Independent News Pakistan-WealthPk