KARACHI: Loads Limited, an auto part manufacturing company, has announced a net profit of Rs63 million for the quarter ended September 2016, up 28% compared to Rs49 million in the same period last year, according to a company notice sent to the Pakistan Stock Exchange (PSX).
Earnings per share increased to Rs0.84 in Jul-Sept 2016 compared to Rs0.65 in the corresponding quarter of the previous year.
Trading in shares of the company will start from November 1. The opening price for the stock will be Rs34 per share as determined by the book-building process.
Loads Limited, which manufactures radiators, exhaust systems, muffler, sheet metal components, etc, plans to use proceeds from the listing to fund a significant expansion plan valuing Rs550 million whereas excess funds will be channeled to the working capital.
Published in The Express Tribune, October 29th, 2016.
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