Karachi February 25 2022: During the six months under review, Bolan Casting recorded net sale PKR 1,366.70 million as compare to PKR 1,023.59 million of the same period of the last year, as per company filling to the exchange.
The gross profit for the six months under review was PKR 106.45 million as against PKR 103.78 million of corresponding period of the last year.
The profit after tax for the six months was PKR 4.92 million as compared to loss after tax of PKR 9.04 million of same period of last year. The earning per share was PKR 0.43 as against the loss per share of PKR 0.79 of corresponding period of last year.
There is robust sign of growth in tractors demand which has increased the sale of tractors and its parts and accessories. In spite of high demand of tractors, company bear the loss at the bottom during the second quarter due to high raw material prices, foreign exchange rate and inflation, which resulted in high cost of production.
However, company is hopeful to perform better in next half of current financial year by exploring the new sales avenues and embracing the cost cutting measures.
Bolan Castings Limited (the Company) is a public limited company incorporated in Pakistan on July 15, 1982 under the repealed Companies Ordinance, 1984 and listed on the Pakistan Stock Exchange (PSX). The Company manufactures and sells castings for tractors and automotive parts. The geographical location and address of the Company’s business unit, including plant is RCD Highway, Hub Chowki, District Lasbela, Balochistan, Pakistan. The Company is a subsidiary of Millat Tractors Limited (the Parent Company)
