Dewan Motors waste cringe 79%
KARACHI: Dewan Farooque Motors Limited’s (DFML) waste decreased 79% to Rs6.57 million in a entertain finished Sep 30 on a behind of poignant cut in cost of sales and placement and partially aloft sales, according to a bourse filing Monday.
The manufacturer of Korean brands like Hyundai and Kia had requisitioned a detriment of Rs31.98 million in a same entertain final year, a association pronounced in a presentation to a Pakistan Stock Exchange. Loss per share stood during Rs0.05 in July-September 2016 compared to Rs0.29 in a same 3 months of 2015.
Its share cost increasing 1.12%, or Rs0.39, and sealed during Rs34.98 with a volume of 6.88 million shares.
Net sales of a association surged 4.5 times to Rs31.53 million from Rs6.97 million.
The cost of sales remained significantly aloft than sales proceeds. However, it reduced to two-times of a sales income from five-times of a income in a analogous period.
Published in The Express Tribune, Nov 1st, 2016.
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Article source: http://tribune.com.pk/story/1216619/dewan-motors-losses-shrink-79/