ISLAMABAD: The profitability margin of Panther Tyres Limited (PTL) in the first quarter of FY23 dropped in value compared with the corresponding quarters of the previous two years, reports WealthPK.
Since 1983, Panther Tyres limited has been engaged mainly in the manufacture and sale of tyres, tubes and related products. PTL is a renowned supplier of tyres and tubes in domestic and international markets. PTL, including 11 peer companies, is listed on the PSX under the automobile parts and accessories sector. With a market capitalisation of Rs3.8 billion, PTL is the third largest company in its sector.
In 1QFY23, the gross sales value dropped by 9% in comparison to the corresponding quarter of the previous year. The company reported a gross profit margin of 8.19% and a net loss of 5.95% over the sales of Rs4.4 billion in 1QFY23. Thus, the PTL’s shareholders were destined to bear a loss of Rs1.59 per share.
In the first quarter of fiscal 23, the gross profit of PTL declined by 18% from 1QFY22 and 46% from 1QFY21, respectively. Whereas, a massive decline in the net profit of PTL has been observed in comparison to the same quarters of last two fiscal years.
Daily Stock Returns – 1QFY23 vs 1QFY22
The daily returns generated by the PTL stocks in 1QFY23 graphed a highly irregular pattern compared to the stock return pattern of 1QFY22.
Multiple high spikes of returns managed to add an average loss of 0.06% to its shareholders accounts in 1QFY23. However, a sensitive pattern with multiple spikes and dips has been recorded throughout the first quarter of fiscal 23.
The daily stock returns graph in 1QFY22 seemed steady and strictly stuck around the neutral line. By the end of 1QFY22, an average loss of 0.48% has been added with no big movements in the shareholder’s portfolios. However, a single deep dip has been observed in the second last week of the first quarter of fiscal 22.
PTL Trade Volume – 1QFY23 vs 1QFY22
In the 1QFY23, the average no. of shares of PTL traded on the PSX was reported to be 148,975.
The average trade volume on the PSX in the first quarter of Fiscal Year 2023 also reduced by 73% in comparison to the corresponding quarter of trade in the previous year.
