Al-Ghazi Tractors Limited returned to profit in the nine months ended September 30, 2026, as tractor sales climbed 60% year-on-year. The company reported net earnings of Rs1.658 billion, reversing a Rs270 million loss in the corresponding period last year.
The recovery represents a Rs1.928 billion positive swing in profitability. Earnings per share reached Rs28.61, compared with a loss per share of Rs4.65 during January–September 2025.
Higher production and sales supported the turnaround, while revenue growth outpaced the increase in tractor volumes. Gross profit rose even faster, strengthening the company’s earnings performance.
Tractor sales and production increase
AGTL sold 6,587 tractors during the reporting period, compared with 4,126 units a year earlier. That represents an increase of 2,461 tractors, or approximately 60%.
Production reached 6,967 units, up from 5,005 tractors in the first nine months of 2025. The company therefore manufactured 1,962 additional tractors, recording growth of approximately 39%.
Operating revenue increased to Rs17.511 billion from Rs9.761 billion, a gain of approximately 79%. The improvement added Rs7.750 billion to revenue compared with the corresponding period.
Gross profit climbed approximately 159% to Rs4.477 billion, against Rs1.729 billion a year earlier. The increase amounted to Rs2.748 billion.
Based on those figures, AGTL’s gross profit margin widened to approximately 25.6% from 17.7%. This indicates that the company retained a larger share of revenue after covering production costs.
Lower finance costs support earnings
Additional financial results reported by Mettis Global show that finance costs fell approximately 95% to Rs11.39 million. The company incurred Rs247.64 million in finance costs during the comparable period.
AGTL also recorded a Rs151.11 million reversal of expected credit losses, compared with a Rs129.86 million charge last year.
Other income increased to Rs282.38 million from Rs114.74 million. Meanwhile, distribution expenses rose to Rs489.19 million, and administrative expenses reached approximately Rs1.53 billion.
For the third quarter alone, the company earned Rs210.09 million, reversing a Rs225.59 million loss a year earlier. Quarterly earnings per share stood at Rs3.62, against a loss of Rs3.89.
Management focuses on operational efficiency
Chief Executive Officer Yasin Seker attributed the improvement to stronger activity and disciplined execution.
“The nine-month performance reflects stronger operational momentum across the business and the impact of disciplined execution. While we remain mindful of the broader operating environment, our focus continues to be on serving our customers effectively, strengthening operational efficiency and building a business capable of delivering sustainable performance over the long term.”
AGTL said it would maintain operational discipline, respond to customer needs and pursue sustainable growth amid an evolving business environment.
The company forms part of the UAE-based Al-Futtaim Group. Its Dera Ghazi Khan plant manufactures New Holland tractors in collaboration with Case New Holland, according to its parent company.
