Indus Motor Company (IMC), which is the official manufacturer and distributor of Toyota vehicles in Pakistan, has announced a remarkable 56% increase in its profit for the fiscal year ending on June 30, 2024. The company’s profit has reached Rs15.07 billion, reflecting a significant improvement in its financial performance, despite facing a 14% drop in revenue.
This impressive profit growth can be credited to better profitability management by the company. The earnings per share (EPS) have also seen a notable rise, going up to Rs191.76 from Rs122.96 in the previous fiscal year. This indicates that each share of the company earned more for its shareholders than it did last year.Toyota’s strong presence in Pakistan is clearly reflected in IMC’s financial results.
The company has recorded a gross profit of Rs19.38 billion, which is a considerable increase compared to Rs7.93 billion in the same period the previous year. This translates to a profit margin of 12.7%, a significant improvement from the 4.5% margin recorded last year.The company’s board of directors has also announced a final cash dividend of Rs43 per share. This comes on top of the interim dividend of Rs71.7 per share that was already distributed earlier in the year.
Altogether, this brings the total cash dividend for the year 2023-2024 to a remarkable Rs114.7 per share.These results showcase IMC’s ability to maintain strong profitability even in challenging market conditions, further solidifying its position as a leading player in the automotive industry in Pakistan.
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