Indus Motors Posts Profit for 1st Quarter of 2017
The company has announced 300 percent (Rs. 30 per share) interim dividend for its shareholders at the end of the third quarter of 2016-17.
According to the financial results declared today by IMC, the maker of Toyota and Daihatsu, the share prices of IMC grew Rs. 53.05 per share in the third quarter of 2016-17 with a year-on-year increase of Rs 15 per share.
Till the end of the third quarter of 2016-17, the overall share prices surged to Rs 130.34 per share by end of March 2017 as against Rs 112.56 per share witnessed by end of the same period in the last financial year (March 2016)
The growth in profit was driven by the earnings of third quarter from January to March 2017 during which IMC profits went up by 41 percent to stand at Rs 4.16 billion. Last year, the company’s profits stood at Rs 2.95 billion
Toyota Corolla, the bestselling car in Pakistan, witnessed a 6 percent decline in overall sales during the period of July to March 2017 compared with last year.
-This financial year, the sale of Toyota Corolla stands at 40,694 units.
-In the last financial year, the sale of Toyota Corolla stood at 43,344 units.
-In this financial year, the sale of Toyota Fortuner increased to 811 units.
-In the last year, the sale of Toyota Fortuner stood at 428 units.
Toyota Fortuner was seen in high demand since January 2017 as 606 units were sold till March. This markedly
increased the profitability of the IMC in the third quarter (January to March 2017).