The Iran Tractor Manufacturing Industrial Development Company (Khodotoseh) published its unaudited financial statements for the six-month period ending at the end of Shahrivar 1405. According to the information in this report, the company's operational revenues grew by 65% from about 1,844 billion tomans in the same period last year to over 3,424 billion tomans.
Significant Growth in Net Profit
Along with the increase in revenues, the company's net profit also experienced significant growth, rising from about 183 billion tomans to nearly 510 billion tomans; a figure that reflects a 178% increase in net profit compared to the first half of last year.
Financial Performance and Expenses
The gross profit of "Khodotoseh" in the first half of this year reached about 797 billion tomans, marking a 159% increase. Additionally, the company's operating profit increased from about 227 billion tomans in the same period last year to 653 billion tomans, registering a 187% growth.
During this period, the cost of operational revenues rose by 46% to about 2,246 billion tomans. Furthermore, selling, administrative, and general expenses also increased by 73%, amounting to about 104 billion tomans. Despite the rise in expenses, the growth in operational revenues and gross profit contributed to improving the company's profitability performance in the first half of the year.
The financial expenses of Iran Tractor Manufacturing Industrial Development Company in the first half of 1405 grew by 41% to about 12 billion tomans. Other operational expenses of the company increased by 93%, amounting to about 41 billion tomans. In contrast, pre-tax profit rose by 185% to about 660 billion tomans.
According to the published report, the net profit per share of Iran Tractor Manufacturing Industrial Development Company increased from 194 rials in the first half of last year to 539 rials in the current period. Thus, the profit per share of the company also grew by 178%.
Overall, "Khodotoseh" experienced significant growth in revenue and profitability in the first half of 1405. The 65% increase in operational revenues, 187% growth in operating profit, and 178% jump in net profit are among the key financial performance indicators of the company during this period. Sales trends, cost control, and management of general and tax expenses are among the factors influencing the continued growth of the company's profitability.
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