Indus Motor Company (IMC) reported a profit of Rs5.09 billion for the quarter ended September 30, 2024 (1QFY25), an increase of 58% when compared with earnings of Rs3.22 billion in the same period of the previous year.
As per the latest financial statements available at the Pakistan Stock Exchange (PSX) on Monday, the company’s earnings per share (EPS) stood at Rs64.77 in 1QFY25 compared with EPS of Rs40.91 in the same period of previous year (SPPY).
The board of directors also declared an interim cash dividend of Rs39 per share i.e. 390% for the quarter ended September 30, 2024.
During 1QFY25, the auto assembler posted revenue of Rs41.6 billion as compared to Rs32.7 billion in the same period of the previous year, a growth of 27%.
Amid higher revenue, the company managed to post a gross profit of Rs5.6 billion in 1QFY25, as compared to the profit of Rs3.3 billion registered in same period last year, up by 69%.
Despite auto sector’s slowdown, Indus Motor Company’s profit up 56% at Rs15.07bn in FY24
This translated into a higher profit margin of 13.4% in 1QFY25, as compared to 10.1% in SPPY.
During the period, the automaker saw its operating expenses balloon to Rs1.3 billion, up by over 40% YoY.
The company saw its profit from operations clocked in at Rs3.9 billion in 1QFY25, an increase of 82% YoY. Meanwhile, other income was up by 58%, to Rs4.5 billion in 1QFY25 from Rs2.8 billion in SPPY.
Consequently, the automaker’s profit before tax clocked in at Rs8.3 billion in 1QFY25, as compared to Rs4.9 billion in SPPY, a jump of 69%.
During 1QFY25, the company paid Rs3.2 billion in taxation, as compared to Rs1.7 billion in SPPY.
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