Sazgar Engineering Works has posted its profits for the quarter that ended on March 31st, 2018. According to the notice which the company has sent to Pakistan Stock Exchange (PSX) it made PKR 58 million in the said time. There is a 9 percent decline in the profits of the company if compared with the same period of the preceding year. Sazgar earned PKR 63.5 million in the first quarter of 2017.
It is to be noted here that not only the profits of Sazgar has declined but also of Ghandhara Nissan and Pak Suzuki as well.
The revenue of the company has also declined by 6 percent in the said time.
Rickshaw maker company, Sazgar has decided to set up car assembly plant in the country by June 2019 under Greenfield project. The company said it would spend PKR 1.76 billion on its new assembly plant. Moreover, it has also been exporting auto rickshaws to Japan for quite some time now; making Pakistani built rickshaws known internationally.
Ghandhara Nissan has also posted its profits, and 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.
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