|
|
| |
|
|
|
| |
|
|
|
Indus Motors’ earnings improves 83 percent |
Indus Motors’ earnings improves 83 percent
started by irfan at
03:00:00 pm on
Apr 25, 2006 in
Pakistan Auto Industry News
Profit after tax of Indus Motors Company Limited has increased by 83 percent during the first nine months of the current financial year with higher gross margins and operating income compared with the corresponding period of the previous financial year.
According to the nine-month results issued by the company, earnings for the period posted growth at 83 percent to Rs 1.78 billion as against Rs 973 million for the same period last year. The growth in earnings translated into earning per share at Rs 22.67 compared with Rs 12.38 for the first nine months of previous year.
“The exceptional growth in profitability primarily emanated from increased margins and higher other operating income,” said Faisal Khatri, an auto sector analyst at Live Securities Limited. Net sales of the company stood at Rs 25.346 billion, up 27 percent as against Rs 20.034 billion previously. Moreover, sustained cost of sales at Rs 22.542 million resulted in 200-basis point increment in gross margin to 11 percent.
On the other hand, distribution costs, administrative expenses and other operating expenses depicted increments at 32 percent, 18 percent and 82 percent respectively. Moreover, a massive hike in the other operating income at 174 percent to Rs 779 million as against Rs 284 million also boded favourably for the bottom line. On the other hand, the effective tax rate of the company marginally increased to 37 percent. On quarterly basis, net sales and cost of sales increased by 27 percent and 19 percent, respectively, to Rs 8.948 billion and Rs 7.812 billion. Indus Motor’s gross profit during the third quarter of financial year 2006 increased by 148 percent to Rs 1.136 billion as against Rs 458 million previously.
The figures released by the Pakistan Automobile Manufacturers Association (PAMA) depict a steady growth in automobile sales during the first nine months of the current fiscal. Cumulative car sales during July-March 2006 depicted a decent growth trend over the same period of last year with sales surging by 26 percent to 111,155 units as against 88,102 previously. On month-on-moth basis, car sales surged by 26 percent to 15,994 units as against 12,692 units during February 2006.
Mr Khatri said going forward, the medium-term profitability outlook for the automobile manufacturers is expected to remain sanguine on the back of firming margins due to yen depreciation, sustained steel prices and rising focus towards trading business.
Indus Motor Company (IMC) is a joint venture between the House of Habib , Toyota Motor Corporation Japan and Toyota Tsusho Corporation Japan (TTC) for assembling, manufacturing and marketing of Toyota vehicles in Pakistan since July 1, 1990. the IMC is engaged in sole distributorship of Toyota and Daihatsu Motor Company vehicles in Pakistan through its dealership network.
The company was incorporated in Pakistan as a public limited company in December 1989 and started commercial production in May 1993.
|
irfan
Age: 34
Location: Lahore ,
Joined:
2005-12-12 06:33:33
Posts: 24
|
|
|
|
Re: Profit after tax of Indus Motors Company Limited has increased by 83 percen...
By: jojo
on 08/01/2006 03:00:00 |
|
jojo
Age: 40
Location: Islamabad ,
Joined:
2006-07-16 00:03:20
Posts:
1
|
|
|
Whats the colour of the Car, if its Metallic blue or Navy blue please send me the pictures. Second thing how many days that will take to reach Pakistan and can we change the delivery point from Karachi to Lahore. |
|
| |
|
|
|
|
|
|
