Indus Motor Company announces First Quarter results : AsiaNet-Pakistan

Indus Motor Company announces First Quarter results

October 22, 2013 | General Business News | Share:

Karachi, October 22, 2013 (PPI-OT): The Board of Directors of Indus Motor Company Limited met on October 21, 2013 to review the Company’s financial and operating performance for the first quarter ended September 30, 2013.

As per the statement of the BOD, the industry sales of locally manufactured vehicles slightly recovered by 5% to 32,841 units as compared to 31,020 units sold during the same period last year.

Commenting on the results, the IMC spokesperson said that during the quarter the combined sales of Toyota and Daihatsu brands, both in CKD and CBU, for the quarter ended September 30, 2013, marginally increased by 2% to 8,553 units, as compared to 8,419 units for the corresponding period in FY 2012-13.

Overall the Company’s net revenues for the first quarter increased from Rs 13.5 billion to Rs 14.3 billion, up by 5.6%, while profit after tax for the first quarter also increased by 27.5%, from Rs 0.69 billion to Rs 0.88 billion.

Commenting on future prospect, the spokesperson further added: “Our strategy will be to proactively engage the new government and convince them to quickly firm up the new Automobile Industrial Plan so that it restores confidence of the OEMs, brings in more FDI, result in jobs creation, enables technology transfer and increase revenue for the national exchequer “.

For more information, contact:
Indus Motor Company Limited
Tel #: (92-21) 34388569, 34521639, 34528342
Fax #: (92-21) 34543105

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Category: General Business News