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Pak Suzuki Motor Q1 profit climbs YOY

Pak Suzuki Motor Co. Ltd. said its first-quarter normalized net income was 10.72 Pakistani rupees per share, a gain from 5.09 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 882.6 million rupees, an increase from 419.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 4.5% from 3.1% in the year-earlier period.

Total revenue climbed 43.4% on an annual basis to 19.64 billion rupees from 13.69 billion rupees, and total operating expenses increased 39.7% year over year to 18.21 billion rupees from 13.03 billion rupees.

Reported net income grew from the prior-year period to 946.1 million rupees, or 11.50 rupees per share, from 442.8 million rupees, or 5.38 rupees per share.

As of April 29, US$1 was equivalent to 101.72 Pakistani rupees.