Board of Directors of Punjab Tractors Ltd. has met today to consider and approve unaudited financial results for the first quarter ended 30^th June, 2007.

Domestic demand conditions in tractor industry during April – June 2007 period remained subdued with aggregate domestic market billings reaching around 75000 tractors, down by 4% from previous year’s same period level.

During the above period, the Company’s concerted efforts were towards rationalisation of channel stock level and also improving collections. Good progress is being made  in this direction.

In the above background, PTL tractors billing during Q-1 of current fiscal was 5065 as compared to 8154 tractors during same period last year. Total Revenue for Q-1 of FY 2007-08 reached Rs. 173.9 crores as against Rs. 246.3 crores recorded same period last year.

While Profit before tax for the current quarter was Rs. 4.4 crores against Rs. 26.0 crores for Q-1 of previous year, Profit after tax reached Rs. 3.3 crores against last year’s 17.7 crores.  

Sourced from: Mahindra and Mahindra