In just six months, Toyota Pakistan reported a whopping Rs. 4.95 billion profit
The Indus Motor Company (IMC) was profitable for the six months that ended on December 31, 2023, with a total of Rs 4.96 billion. Compared to the same period last year, when they made Rs2.63 billion, this is a significant gain of 89%. Despite a decline in overall income, they were still able to turn a profit.
Their earnings per share (EPS), which displays the profit made by each of the company’s shares, increased as well. In the first half of the current year, it was Rs63.07, up from Rs33.43 in the same period last year. The board of directors of the company decided to pay an interim cash dividend of Rs13.2 per share on top of the Rs24.5 per share they had already paid out because they performed well.
Nevertheless, throughout this period, the company’s overall income decreased by 41%, from Rs86.83 billion to Rs50.91 billion. Nevertheless, they were able to turn a profit of Rs4.72 billion, which is a significant increase from the Rs2.85 billion loss they incurred during the same period previous year. The main reason for this is because they made different purchases with less money. Additionally, they saw an increase in their profit margin from -3% to 9%, which indicates how much profit they make in relation to their overall revenue.
In addition, their other revenue decreased by 38%, and their financing expenses decreased as well. The Indus Motor Company saw a significant 96% increase in profit before taxes, going from Rs3.76 billion to Rs7.35 billion. Additionally, they paid Rs2.4 billion in taxes this year as opposed to Rs1.1 billion the previous year.
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