Hi-Tech Lubricants Q3 Profit Surges


Pakistani lubricant supplier Hi-Tech Lubricants Ltd. reported a 110 percent rise in its third-quarter net profit, thanks to higher other income and lower expenses.

The company posted a consolidated net profit of Rs 155.65 million (U.S. $1.49 million) from January to March, up from Rs 74.23 million in the same period last year.

Get alerts when new Sustainability Blog articles are available.


Other income soared to Rs 6.98 million compared to Rs 996,084 a year earlier. Total expenses went down by 11 percent to Rs 201.13 million.

Sales largely remained unchanged year on year at Rs 1.52 billion, as pick-up in volumes offset the impact of lower product prices.

For the nine months ended March 31, Hi-Techs consolidated net profit rose 76 percent year on year to Rs 441.14 million, and sales jumped 26 percent to Rs 4.95 billion.

Hi-Tech, which distributes South Koreas SK Lubricants Ltd.s Zic brand of finished lubricants to more than 150 sellers in Pakistan, reduced prices of its products by 2 to12 percent per liter in the third quarter, in line with lower international product prices. As a result, the companys volumes jumped by 9 percent compared to the corresponding quarter of last year.

Related Topics

Asia    Business    Earnings    Pakistan    Region