Karachi: The Board of directors of Indus Motor Company (IMC) free its financial results for the first quarter finished Sept thirty, 2020.
The Company’s combined sales of Complete Knocked Down (CKD) and Complete settled (CBU) units for the quarter increased by seventy 3 to eleven,809 units against half-dozen,839 units sold inside identical quantity last year. The market share of IMC inside the market stood at around twenty seventh for the first quarter.
The Company’s financial gain turnover for the quarter increased by sixty fifth to thirty four.19 billion compared to Rs. 20.72 billion, for constant quantity last year; whereas profit once tax increased by 400th to Rs. 1.85 billion against Rs. 1.32 billion achieved inside identical quantity last year.
The increase in turnover and gain for the three-month quantity was within the main attributable to higher CKD and CBU volumes, and increased totally different gain attributable to improved cash flows, however, attributable to the depreciation of Pak Rupee and absorption of costs, the quantitative relation of the company reduced to 6.7% against 9.7% in same quantity last year.
The Earnings of the company Rs. 23.48 compared to Rs. 16.78 according throughout constant time last year in September 2019. The Board of directors is happy to declare initial interim cash dividend of Rs. twelve per share for the first quarter as compared to Rs. seven per share, for constant quantity last year.
Expressing his views, CEO Ali Jamali, stated, We would like to perceive our customers for his or her continued loyalty towards our merchandise still as acknowledging the tremendous and dedicated efforts of our staff, vendors, dealers, business partners and so the complete Indus team throughout these troublesome times.
In the further customary General Meeting of Indus Motor Company restricted persisted Gregorian calendar month twenty eight, 2020, the prevailing directors of the company were re-elected as directors and later, inside the Board of directors meeting persisted same day, Mr. Mohamedali R. Habib and Mr. Yuji Takarada re-elected as Chairman and chairman, severally, and Mr. Ali Asghar Jamali re-appointed as Chief government, of the company, for a term of three years commencing from Gregorian calendar month thirty one, 2020.