The profit after tax of Al Ghazi Tractors has increased to Rs 1,131.964 million in the half year period ended June 30, 2011 as compared to Rs 997.805 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held on Thursday declared that the company's earning per share has increased to Rs 26.36 in the period under review against Rs 23.24 in the same period last year.
According to the financial results sent to Karachi Stock Exchange, the company's sales slightly declined to Rs 8.203 billion in the half year period this year against Rs 8.455 billion in the same period last year. The cost of goods sold reduced to Rs 6.614 billion against Rs 6.815 billion.
The company's profit before taxation increased to Rs 1.687 billion in the first half of 2011 against Rs 1.567 billion in the same period in 2010. On quarterly basis, the company's profit after tax however declined to Rs 510.545 million translating into earning per share of Rs 11.89 in the quarter ended June 30, 2011 as compared to after tax profit of Rs 521.208 million with per share earning of Rs 12.14 witnessed in the corresponding quarter in 2010.
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