Hinopak Motors revenue spikes, but profit dips in 9MCY22

ISLAMABAD: Hinopak Motors Limited’s sales increased 11% to Rs9.8 billion in the first nine months (April-Dec) of calendar year 2022 compared to the same period of 2021, reports WealthPK.
However, the gross profit ratio of the company dropped to 8.32% in 9MCY22 from 10.95% reported over the corresponding period in CY21. The gross profit generated by Hinopak Motors Limited in 9MCY22 was Rs815 million, whereas the gross profit earned in 9MCY21 was Rs963 million.
The company’s net profit plunged to only Rs10 million in 9MCY22 from Rs341 million in 9MCY21.
The earnings per share dropped from Rs13.77 in 9MCY21 to Rs0.41 in 9MCY22.
Hinopak Motors Limited is listed on the Pakistan Stock Exchange with the symbol HINO in the automobile assemblers sector. With a market capitalisation of Rs5.4 billion, HINO is the seventh largest company of the sector. A leading manufacturer of diesel automobiles in Pakistan, HINO was established in 1986 as an international joint venture. HINO is primarily engaged in manufacturing and selling of trucks, buses and other specialised heavy machinery.

Hinopak Motors – Quarterly Profitability – CY22

The company’s fiscal year is from April 22 to March 23.
In the first quarter of trade (April-June), HINO registered sales of Rs2.9 billion and a gross profit of Rs267 million. The company earned net profit worth Rs51 million.
During this quarter, HINO’s gross profit ratio and net profit ratio came out to be 8.97% and 1.73%, respectively. HINO reported EPS value of Rs2.08 in this quarter.
The second quarter of trade (July-Sept) ended in net loss. The company made a gross profit of 9.16% on sales of Rs2.8 billion during this quarter. The company reported a net loss of Rs48 million in its income statement. The second quarter brought a loss per share of Rs1.96.
During the third and the most recent quarter of trade (Oct-Dec), HINO posted a rebound in its financial performance. During this quarter, the company registered the highest sales of Rs6.9 billion during the year. The gross profit of Rs553 million on the sales gave a gross profit ratio of 7.97% during the third quarter.
HINO’s net profit in the third quarter was Rs58 million. The company earned the highest EPS value of Rs2.37.