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With strong Q1 financial performance, Indus Motor Company kicks up FY2022

Indus Motor Company Ltd. (IMCBoard )’s of Directors met on October 25, 2021 to discuss the company’s financial and operational performance for the first quarter ended September 30, 2021. The company’s net sales turnover increased by 91.7 percent to Rs. 65.55 billion, up from Rs. 34.19 billion in the same time previous year. Profit After Tax (PAT) climbed by 194% to Rs. 5.42 billion, compared to Rs. 1.85 billion in the same period the previous year. Higher sales volumes of Completely Knocked Down (CKD) and Completely Built-up Units aided the increased turnover and profitability numbers for Q1FY2022 beginning in July 2021. (CBU). The overwhelming response received from our esteemed customers for Toyota Yaris, making it the “Highest Selling Sedan in Pakistan”, has also led to volume increase.

Also read: HBL and Indus Motor Company have formed a strategic partnership.

“Alhamdolillah, the start of the new fiscal year has actually been quite optimistic,” Ali Asghar Jamali, Chief Executive IMC, said of the first quarter’s performance. The government’s move to lower tariffs has resulted in a significant increase in income. Despite the supply chain challenges, we are geared up and driving full steam ahead to satisfy customer demand as the COVID threat fades.

He reiterated his concerns about the industry and added that, “The Rupee’s continuing downward spiral remains a high concern as does the ensuing rising inflation and international commodity prices which will continue to be vital factors that have an impact on the future financials of the Company.We are committed to Customer First, Toyota’s cornerstone principle, which is our competitive edge that promises to provide customers with nothing short of excellence through its products and services.”

Also read: In the face of growing expenses, automakers are considering raising prices

Based on the results, the Board of Directors announced an interim cash dividend of Rs. 34.50 per share for the quarter compared to Rs 12 per share in same period last year.

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