The net sales turnover for the Nine-months ended March 2023 decreased by 33.6% to Rs. 135.03 billion as compared to Rs. 203.41 billion in the Nine-months ended last fiscal year. Profit after tax for the Nine-months period also decreased by 61.8% to Rs. 5.84 billion, as against Rs. 15.29 billion achieved in the same period last year.
The decrease in turnover and profitability for the year was mainly due to lower CKD and CBU sales volumes, mainly due to restrictions imposed by SBP on Imports, and an increase in input costs which were driven by severe devaluation of PKR against USD and rising production costs.
The decline in profitability was offset by higher other income, resulting from higher interest rates as compared to same period last year.
The gross margin percentage declined from 8.6% last year to 0.15% which is primarily on account of Rupee depreciation and rising international commodity prices, while the impact was not passed on to the customers, to maintain our commitments.
The Board of directors have declared 3rd interim cash dividend of Rs. 24.40 per share for quarter ended March 31, 2023 as against Rs. 26 per share for same quarter last year.
IMC PERFORMANCE FOR THE NINE-MONTHS ENDED MARCH 2023
Operating Highlights
Nine-Months ended March 31
% change
2023
2022
2023 vs. 2022
Vehicle Sales
Units
26,055
57,367
-55%
Vehicle Production
Units
26,848
55,192
-51%
Net Revenue
Rs in million
135,033
203,407
-34%
Gross Profit
Rs in million
197
17,568
-99%
Other Income
Rs in million
11,653
7,732
51%
Profit Before Tax
Rs in million
8,598
21,192
-59%
Profit After Tax
Rs in million
5,844
15,292
-62%
Earnings Per Share
Rs
74.35
194.56
-62%
At the end of Period
As at
31-Mar-23
31-Mar-22
Total Assets
Rs in million
131,710
194,832
-32%
Shareholders' Equity
Rs in million
58,153
55,555
5%
Share Performance
As at
3-May-23
3-May-22
Price per Share
Rs
941.06
1,352.13
-30%
Market Capitalization
Rs in million
73,967
106,277
PKR/USD PARITY
310
Inter Bank
FY21-22
290
PKR depreciated by 11.6% during
PKR appreciated by 0.4% during
PKR depreciated by 25.2% during
284.00
Jan-23 to Mar-23
Jul-22 to Sep-22
Oct-22 to Dec-22
270
250
230
228.60
227.25
226.40
226.76
210
204.80
190
180.50
182.80
170
170.35
150
157.60
130
110
4-Jul-22
11-Jul-22
18-Jul-22
25-Jul-22
1-Aug-22
8-Aug-22
15-Aug-22
22-Aug-22
29-Aug-22
5-Sep-22
12-Sep-22
19-Sep-22
26-Sep-22
3-Oct-22
10-Oct-22
17-Oct-22
24-Oct-22
31-Oct-22
7-Nov-22
14-Nov-22
21-Nov-22
28-Nov-22
5-Dec-22
12-Dec-22
19-Dec-22
26-Dec-22
2-Jan-23
9-Jan-23
16-Jan-23
23-Jan-23
30-Jan-23
6-Feb-23
13-Feb-23
20-Feb-23
27-Feb-23
6-Mar-23
13-Mar-23
20-Mar-23
27-Mar-23
31-Marr-23-
JPY/PKR PARITY
Interbank
FY21-22
2.300
PKR depreciated by 5.5% during
PKR depreciated by 7.8% during
PKR depreciated by 23.5% during
2.100
Jul-22 to Sep-22
Oct-22 to Dec-22
Jan-23 to Mar-23
2.1384
1.900
1.700
1.7027
1.7318
1.5871
1.5793
1.5704
1.500
1.5048
1.5246
1.5704
1.5006
1.4270
1.300
1.100
0.900
01-Aug-22
08-Aug-22
15-Aug-22
22-Aug-22
29-Aug-22
05-Sep-22
12-Sep-22
19-Sep-22
26-Sep-22
03-Oct-22
10-Oct-22
17-Oct-22
24-Oct-22
31-Oct-22
07-Nov-22
14-Nov-22
21-Nov-22
28-Nov-22
06-Mar-23
13-Mar-23
20-Mar-23
27-Mar-2331-Marr-23-
04-Jul-22
11-Jul-22
18-Jul-22
25-Jul-22
05-Dec-22
12-Dec-22
19-Dec-22
26-Dec-22
02-Jan-23
09-Jan-23
16-Jan-23
23-Jan-23
30-Jan-23
06-Feb-23
13-Feb-23
20-Feb-23
27-Feb-23
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Indus Motor Company Ltd. published this content on 04 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2023 05:52:01 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 
