According to records with the Pakistan Stock Exchange, Millat Tractors Limited (MTL), the country’s top tractor manufacturer, recorded an astounding 167% growth in after-tax profit for the fiscal year 2024, reaching Rs10.64 billion from Rs4 billion the year before.
The company’s revenue from client contracts increased from Rs47.14 billion in the previous fiscal year to Rs95.02 billion. According to Arif Habib Limited’s analysis, the main driver of this expansion was a 62% increase in sales volume, which reached 30,000 units.
In FY2024, MTL’s gross profit increased by a significant 130% to Rs23.97 billion from FY2023’s Rs10.40 billion. The earnings per share increased from Rs18.53 to Rs55.46, a substantial improvement over the previous year.
