Suzuki Pakistan’s net profit is down by a massive 43% to PKR 394 million, in the 2nd quarter of the current fiscal year.
As per the stats, which the company has released, the net profit Pak Suzuki earned in the same period last year was PKR 685 million and this year its net profit shows a sharp decline.
Moreover, it would be worth mentioning here that Earnings per share (EPS) has also dropped to PKR 4.78. In the same period of the previous fiscal year, the EPS was PKR 8.32.
Not only the company’s profit has gone down in Q2 of 2018, but the whole H1 of this year has not been so good for Suzuki. Its profits in H1 of 2018 dropped by 35.18% to PKR 1.89 billion year-on-year. While in the same period of the corresponding year, it posted a net profit of PKR 1.99 billion. Furthermore, the EPS in the first half of this year stood at PKR 15.77, on the contrary, the EPS at the same period of the previous year was PKR 24.20.
It is an astonishing fact that the sales revenue of the company in 2QCY18 grew to 35% despite overall profit decrease.
Apart from the decrease in net profit, the company has also announced to phase out one of the Mehran’s variant VX in November 2018.
For current updates, stay tuned to PakWheels.com.