Indus Motor Company (IMC) booked profits of Rs 290 Crore in nine months of the current fiscal year (9MFY12) as compared with Rs1.6 billion, registered a handsome year-on-year growth of 81% on increasing cars sales.
As per data, the combined sales of Toyota and Daihatsu brands (CKD & CBU) for the quarter ended March 2012 stood at 15,002 units, compared to 15,084 units sold in similar period last year, showing a sustainable situation.
But the production has increased by 4.7 percent to 15,677 units as against 14,969 units produced in the same period in order to meet the rising demand of the local market in the future.
On year to date basis, the combined sales of Toyota and Daihatsu brands (CKD & CBU) grew 3.6% only to 39,343 units compared to 37,987 units for 2011.
The company’s combined sales revenue for the 9 months ended March 2012 stood at Rs. 5,390 Crore. The earnings increased by an impressive 36 percent mainly because of the growth in net sales rising by 32 percent, increased prices and improved gross margin stood at 8.5 percent.
On the other hand, Other Income remained flat at Rs 40 Crore. In third quarter alone, the earnings clocked in at Rs14.35/share, up 62%YoY, inline with an estimate of Rs14.5/share.
Indus Motors introduced the much anticipated Hilux Vigo Champ, a more than Rs 2.2 million worth automobile, with an automatic transmission for the first time in Pakistan which is well received by the market. The most favorite cars of customers remained Corolla and its different variants.
The past quarter performance was robust and we expect demand for our products in market to remain strong in view the customers’ preference for our range of Toyota products and services, Indus Motors’ spokesperson said while commenting on quarterly performance and future outlook.
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