Indus Motor Company Limited (“the Company”) has announced its financial results for the half-year FY 24-25 ended December 31, 2024, showcasing strong growth amidst signs of economic recovery in Pakistan.
The Company’s net sales turnover for the six-month period ended December 31, 2024, surged to Rs. 84.88 billion, up from Rs. 50.91 billion in the corresponding period last year. This significant increase was primarily driven by higher sales volumes of CKD and CBU vehicles, alongside improvements in cost efficiencies and localization efforts.
During the period under review, Indus Motor Company posted a substantial increase in Profit After Tax (PAT), rising to Rs. 9.96 billion, as compared to Rs. 4.96 billion in the same period last year. The impressive profitability growth is attributed to increased volumes, lower input material costs, favorable exchange rate movements, and optimized cost management initiatives. Additional earnings from investments also played a key role in strengthening the Company’s financial position.
Ali Asghar Jamali, Chief Executive Officer of IMC, commented, “This half of FY 2024-25 has been marked by a stable economic outlook, improved trade balance, and lower inflation, which have positively impacted the auto industry. While these developments are encouraging, challenges remain due to high taxation and duties that continue to affect vehicle affordability. We urge the government to introduce policy measures such as reducing import duties, rationalize the depreciation rates on used car imports, and ease the restrictions on auto financing to facilitate market expansion and further boost local manufacturing.”
The Company’s Earnings Per Share (EPS) for the half-year stood at Rs. 126.69, as compared to Rs. 63.07 in the same period last year. In light of the positive performance, the Board of Directors has declared a second interim cash dividend of Rs. 37 per share, compared to Rs. 13.20 per share in the corresponding period last year.
Additionally, the Board of Directors has appointed Mr. Giri Venkatesh as a Director, following the resignation of Mr. Akihiro Murakami, effective February 27, 2025. The Company expresses gratitude to Mr. Murakami for his contributions and extends a warm welcome to Mr. Venkatesh.
Looking ahead, the Company remains committed to delivering high-quality products and services, enhancing customer satisfaction, and supporting the development of Pakistan’s automotive industry.
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