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

ISLAMABAD: Millat Tractors Limited (MTL), Pakistan’s largest tractor manufacturer, reported a profit of 10.64 billion rupees after tax for the fiscal year 2024, reflecting an increase of approximately 167%.
According to the Pakistan Stock Exchange, the company achieved total revenue of 4 billion rupees in 2023.Pakistan Stock Market Drops 283 Points Amid Volatile Trading

The Board of Directors and shareholders have also approved the merger of Millat Tractors Limited with Millat Equipment Limited, with the process for obtaining approval from the Lahore High Court currently underway.

Millat Tractors’ revenue surged to 95.2 billion rupees, up from 47.14 billion rupees during the same period last year, primarily driven by contracts with customers.

With the backing of the SIFC, companies like Millat Tractors are poised to bring about positive changes in the country’s economy.