The quarterly board meeting of Indus Motor Company Ltd for the quarter and nine months ended 31st March FY 2017-18 was held on Friday. The combined sales of IMC CKD and CBU for the nine months ended March 31, 2018 clocked 47,103 units, up 2 percent over 46,216 units for the same period last year.
The market share stood at 22 percent for the nine months period. The company's net sales turnover for the nine months ended March 31, 2018 increased by 19 percent to Rs 100.2 billion as compared to Rs 84.3 billion for the same period last year, while profit after tax increased by 14 percent to Rs 11.6 billion as against Rs 10.2 billion achieved for the same period last year.
Commenting on the performance, Ali Asghar Jamali, CEO, Indus Motor Company, said that the increase in revenues and net profit against last year same period was mainly attributable to improved turnover of both CKD and CBU vehicles on account of minor model changes of all major vehicles during the year and improvement in operation efficiencies and sales mix. He also said that demand momentum for automobiles remained strong throughout the period, due to rising disposable incomes, availability of reasonably priced auto financing and growth in ride hailing services.-PR