Loads Limited’s profit falls 20% to Rs48.3m

EPS stands at Rs0.32 for October-December quarter

KARACHI: Loads Limited - an auto part manufacturer - has posted a consolidated profit of Rs48.3 million for the quarter ended December 31, 2017, down 20% compared with Rs60.1 million in the same quarter last year, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) came down to Rs0.32 compared with Rs0.52 in the period under review.

However, in the first six months (Jul-Dec) of fiscal year 2018, consolidated net profit of the company inched up to Rs132.3 million from Rs129 million in the same period last year. The KSE-100 index closed at 43,239, up 244 points or 0.57%. However, Loads’ share price closed at Rs40.12, down 4.2%.

Loads Limited got listed at the PSX in 2016. The company is located in Karachi and it makes radiators, exhaust systems, mufflers and sheet metal components among other parts.

The company’s clients include more than a dozen national and multinational companies engaged in the production of motorcycles, cars and heavy vehicles.

Pakistan automobile industry has seen an extraordinary growth in the last couple of years mainly due to improving macroeconomic indicators and security situation in the country.

Published in The Express Tribune, March 1^st, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.