Indus Motor Company Limited on Monday announced 74 per cent decline in after tax profit for the first half of fiscal year 2022-2023.
The company, the assembler of Toyota cars in Pakistan, declared Rs2.63 billion for the half year ended December 31, 2022 as compared with Rs10.17 billion in the corresponding half of the last fiscal year.
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Indus Motor declared Rs33.43 as earnings per share (EPS) for the period July – December 2022 as against EPS of Rs129.45 in the same period of the last year.
The board of directors of the company in their meeting held on Friday, February 10, 2023 recommended an interim cash dividend for the quarter ended December 31, 2022 at Rs10.20 per share i.e. 102 per cent. This is in addition to the first interim cash dividend of Rs8.20 per share i.e. 82 per cent, already paid.
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The company incurred gross loss of Rs2.85 billion during first half of fiscal year 2022-2023 when compared with profit of Rs12.34 billion in the same half of the last fiscal year.
Expenses are stagnant at Rs1.86 billion during the half year under review when compared with Rs1.87 billion in the same half of the last year.
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The declared a phenomenal increase in other income which grew to Rs8.62 billion during July – December 2022 as against Rs4.55 billion in the same half of the last year.
Profit before tax of the company came at Rs3.76 billion for the period under review as compared with 14.12 billion in the same period of the last year.
