Karachi April 26 2023: Toyota Pakistan, Indus Motor Company Limited, profitability increase 3.5 times in third quarter on multiple price hikes to cover increase in production cost, according to company filing to the exchange.
Company share price jump PKR 48.23 or 5.21 percent after the announcement at Pakistan Stock Exchange.
The Company’s net sales turnover for the quarter ended March 31, 2022, decreased by 2.7 percent to PKR 48.1 billion, as compared to PKR 49.5 billion during the previous quarter, while profit after tax increased by 446 percent to PKR 5.8 billion, as against PKR 1.3 billion achieved in the previous quarter.
Despite the challenging quarter faced by the Company in terms of volumes and profitability, the Board of Directors is pleased to declare a second interim cash dividend of PKR 24.4 per share for the nine month ended on March 31, 2022, as compared to PKR 26.0 per share, for the same period last year.
