Indus Motor Company Limited’s (IMC) profit amplified from 13.5 percent to Rs13 billion for the year ended June 30, 2017, translating into earnings per share (EPS) of Rs165.41, a bourse filing said on Thursday.
“Indus Motor registered net income of Rs11.5 billion with EPS of Rs145.74 in the earlier financial year”, said a notice to Pakistan Stock Exchange.
The company publicized a final cash bonus of Rs35/share. This is additionally to the collective interim cash dividend of Rs80/share already paid to shareholders.
IMC’s share value closed 2.5 percent down on Thursday despite growth in profit. The automaker’s revenue also increased more than three percent to Rs112.271 billion for the year ended June 30. The former year’s net sales amounted to Rs108.758 billion. Analyst Ahmed Lakhani at JS Global Capital said “price increases and growth in trading segment can be attributed to higher turnover”.
In the PSX, the share cost of Indus Motor went down – 2.44% to close at Rs 1700.79 on Thursday. The benchmark KSE 100-share Index finished at 42,268.62 focused, down to 642.17 focuses or 1.50%.
The sales of the organization contracted to 4 % YoY in the active quarter. The incomes increased in which expensive variations contributed towards the deals.
The company sold a sum of 14,167 units amid April-June 2017 period which is around 16% YoY. In the middle of declining volumes, normal income per auto developed by 12% YoY since of expanded offers of higher estimated variation Fortuner. Complete deals were up by 224%.
Net benefits dropped by 5% YoY while net margins decreased to 12 bps YoY to 16.5 % in the active quarter. Lower effective taxation led to higher benefits in an active quarter.
During the monetary year 2017, gross margins of the organization improved by 190 bps YoY to 17.7%.
Topline Securities stated in its report that the consequences of Indus Motors were in harmony with market requirements.
