KARACHI – Indus Motor Company (IMC), which assembles Toyota vehicles in Pakistan, has announced that it will temporarily suspend production operations until October 31 due to a shortage of parts. This decision has been driven by difficulties in obtaining raw materials and components, highlighting the ongoing challenges within the supply chain.
In terms of financial performance, IMC reported a profit of Rs5.09 billion for the first quarter of the fiscal year, a notable increase from Rs3.22 billion during the same period last year. Additionally, the company experienced a 27.3% surge in total revenue, which reached Rs41.6 billion, up from Rs32.67 billion in the previous year.
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To reward its shareholders, Indus Motors has declared an interim cash dividend of Rs39 per share, amounting to an impressive 390% payout for the first quarter. This move underscores the company’s commitment to maintaining investor confidence despite current operational hurdles.
On the expense side, IMC saw an increase in administrative expenses, which rose by 9.2% to Rs584.79 million. Meanwhile, selling and distribution expenses surged by 72.9%, reaching Rs662.52 million, and other operating expenses increased significantly by 83.9%, totaling Rs451.28 million.
Furthermore, the company contributed a higher tax amounting to Rs3.18 billion, representing an 86.2% rise compared to Rs1.71 billion from the same quarter last year. These financial results reflect Indus Motor Company’s strong growth trajectory, despite the operational challenges it currently faces.
