Indus Motors posts 195% growth in net profit to Rs5.42bn

Indus Motors posts 195% growth in net profit to Rs5.42bn

KARACHI: Indus Motor Company Limited on Tuesday announced a massive increase in net profit by 195 per cent to Rs5.42 billion for the quarter ended September 30, 2021 as compared with Rs1.84 billion in the same quarter of the last year.

According to financial results shared with the Pakistan Stock Exchange (PSX), the company announced Earnings Per Share (EPS) at Rs69.02 for the quarter ended September 30, 2021 as compared with EPS Rs23.48.

The board of directors of the company in the meeting held on October 25, 2021 approved the results. The board approved an interim cash dividend for the quarter ended September 30, 2021 at Rs34.5 per share i.e. 345 per cent.

The revenue of the company sharply increased to Rs65.55 billion for the quarter ended September 30, 2021 as compared with Rs34.19 billion in the same quarter of the last year.

Gross profit of the company surged to Rs7.07 billion for the quarter under review as compared with Rs2.29 billion in the same quarter of the last year.

Total expenses of the company for the quarter ended September 30, 2021 increased to Rs941 million as compared with Rs551 million in the same quarter of the last year.

The company has paid an amount of Rs2.26 billion as taxes for the quarter ended September 30, 2021 as compared with Rs800 million paid in the same quarter of the last year.

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