KARACHI: Hinopak Motors – the largest bus and truck-maker in Pakistan – has posted an after-tax profit of Rs381 million in the first quarter ended June 30, 2015 compared to Rs268 million in the same quarter of previous year. Earnings per share (EPS) jumped to Rs30.75 from Rs21.65.
The company had announced a considerable net profit of Rs1.07 billion in the financial year ended
March 2015 compared to Rs624 million in fiscal year 2014.
It is continuously consolidating the position, registering profits for the last five years, but fiscal year 2015 was the most noticeable in terms of earnings.
Hinopak, in its annual report for 2015, said the outlook for automobile industry was likely to remain challenging as new entrants would strive hard to grab the market share.
However, it added, positive social and macroeconomic factors would play a vital role in delivering a strong performance in the year ahead.
“Consistent government policies with a long-term vision are essential for the growth of auto industry. Despite various challenges, the management is confident that the company will maintain its market leadership,” it said.
Published in The Express Tribune, July 24th, 2015.