Ghandhara Nissan has posted its profits and it doesn’t look good. According to the company it made PKR 198 million in the quarter that ended on March 31st, 2018 with 28 percent decline in its profit when compared to the same period of the preceding year. The company made PKR 275.6 million profits in Q1 of 2017.
Moreover, the revenue sales of the company have declined by 31%. Additionally, the share price has also declined by PKR 12.75. ET reports that the revenue dropped because the company stopped vending its UD trucks.
Ghandhara has been granted Brownfield status by the government and will be launching Datsun cars into the country soon and will be investing in the local automobile industry as well. Furthermore, the company has signed importer agreement with Renault Trucks SAS to import heavy-duty trucks to Pakistan.
It is quite possible that at the end of this year, due to the launching of new vehicles, the profits and sales of the company also rise.
Atlas Honda has posted its profit for the year that ended on 31st March 2018. According to the company it made a profit of PKR 4.66 billion up 24.27%. On the contrary, the company made a net profit of PKR 3.75 billion in the same period of the preceding year.
Pak Suzuki has also posted its profits for the quarter that ended on March 31st, 2018; it attained the profit PKR 904.14 million in the said period.
Stay tuned for updates.