The net sales turnover for the year ended 2023 decreased by 36% to Rs. 177.71 billion as compared to Rs. 275.5 billion in last year. Profit after tax for the year also decreased by 39% to Rs. 9.66 billion, as against Rs. 15.80 billion achieved last year.
The decline in turnover and profitability for the year was mainly due to lower sales volumes of CKD and CBU, on account of import restrictions and demand contraction.
The decline in profitability was partially offset by increase in other income, resulting from return on investments on account of higher interest rates.
The gross margin percentage declined from 6.7% last year to 4.5%, due to increase in input costs, mainly driven by severe devaluation of Rupee and high inflationary impact.
The quarter wise profitability improved in last quarter, mainly due to improved sales mix and realization of revised prices, reduction in input costs and increase in income from investments, subject to higher interest rates.
Based on the results, the Board of directors have declared Final cash dividend of Rs. 29 per share, as against Rs. 3.25 per share in last year, thus making the annual dividend for the year to Rs. 71.8 per share, as against Rs. 93.75 per share last year.
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Indus Motor Company Ltd. published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 10:44:10 UTC.
Indus Motor Company Limited is a Pakistan-based company, which is engaged in the assembling, progressive manufacturing and marketing of Toyota vehicles. The Company also acts as the sole distributor of Toyota and Daihatsu vehicles in Pakistan. The Companyâs factory is situated at Plot No. NWZ/1/P-1, Port Qasim Industrial Estate, Bin Qasim, Karachi. The Companyâs segments are Manufacturing and Trading. The Company offers products, including Toyota Corolla Altis X, Toyota Yaris, Toyota Camry Hybrid, Toyota Corolla Cross, Toyota Fortuner, Toyota Revo, Toyota Hilux E (Standard), Toyota Hilux Single Cabin, Toyota Hiace Deluxe, Toyota Hiace and Toyota Coaster. In addition, the Company offers services, which include a Toyota protection plan, extended warranty and prepaid periodic maintenance.
INDUS MOTOR COMPANY LIMITED 
