Indus Motor reports 38% profit surge

The Indus Motor Company (IMC) reported a profit of Rs4.45 billion for the third quarter ended March 31, 2024, marking a significant increase of 38% compared to the earnings of Rs3.22 billion recorded during the same period in the previous year. According to the company’s financial statement, the board of directors declared an interim cash dividend of Rs34 per share, supplementing the interim cash dividend of Rs37.7 per share that has already been distributed. The earnings per share for three quarters of FY24 stood at Rs56.61, reflecting a notable rise from earnings per share of Rs40.92 for the corresponding period. In the nine months of FY24, IMC posted a gross profit of Rs6.96 billion, demonstrating a substantial growth of 14.7% compared to the loss of Rs3.05 billion reported for the corresponding period. However, the company’s revenue for the same period experienced a slight decline, amounting to Rs47.32 billion compared to Rs48.2 billion in FY-23, representing a decrease of approximately 2%.