Millat tractor earning takes dip
2/17/2012 1:03:20 PM
KARACHI: The net earnings of Millat Tractors Limited (MTL) eroded by significant 48 percent to Rs 617.08 million during the first half of the financial year 2011 against Rs 1,188.72 million recorded in the same period last year.
The outgoing financial period remained challenging for the tractor company due to unfavorable exogenous factors like imposition of higher General Sales Tax (GST), high steel cost and Pakistani rupee depreciation.
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