During the six months ending on December 31, 2023, the Indus Motor Company (IMC) earned a profit of Rs4.96 billion. This is a big increase of 89% compared to the same time last year, when they made Rs2.63 billion. Even though their overall revenue decreased, they still managed to make more profit.
Their earnings per share (EPS), which shows how much profit each share of the company makes, also went up. It increased from Rs33.43 in the first half of the previous year to Rs63.07 in the first half of the current year. Because they did well, the company’s board of directors decided to give out an interim cash dividend of Rs13.2 per share, on top of the Rs24.5 per share they already paid.
However, the company’s total revenue went down by 41% during this time, from Rs86.83 billion to Rs50.91 billion. But they still managed to make a gross profit of Rs4.72 billion, which is a big improvement compared to a loss of Rs2.85 billion in the same period last year. This is mostly because they spent less money on different things. Their profit margin, which shows how much profit they make compared to their total revenue, also increased from -3% to 9%.
They also had less other income coming in, which went down by 38%, and they had lower finance costs as well. Overall, the Indus Motor Company’s profit before tax increased to Rs7.35 billion from Rs3.76 billion, which is a big increase of 96%. They also paid more in taxes, with Rs2.4 billion in the current year compared to Rs1.1 billion last year.
