MTL registered profit of Rs10.64b after paying tax during fiscal year 2024

Pakistan's largest tractor manufacturer, Millat Tractors Limited (MTL) Company, registered a profit of ten point six-four billion rupees after paying tax during the fiscal year 2024, showing an increase of about one-hundred and sixty-seven percent. According to the Pakistan Stock Exchange, the company recorded total revenue of four billion rupees in the year 2023. The Board of Directors and shareholders has also approved the merger of Millat Tractors Limited with Millat Equipment Limited. However, process for getting approval from the Lahore High Court is underway. The revenue of Millat Tractors increased to ninety-five point two billion rupees from forty-seven point one-four billion rupees, during the same period last year, primarily due to contracts with customers. With the support of the SIFC, companies like Millat Tractors can lead to positive changes in the country's economy. Source: Radio Pakistan