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Toyota Pakistan Records Huge Profit of Rs. 4.95 Billion in 6 Months

Toyota Pakistan Records Huge Profit of Rs. 4.95 Billion in 6 Months

Toyota Pakistan Records Huge Profit of Rs. 4.95 Billion in 6 Months
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In the six months until December 31, 2023, the Indus Motor Company (IMC) saw a significant profit of Rs4.96 billion, marking an 89% increase from the same period last year when they earned Rs2.63 billion. Despite a decrease in overall revenue, the company managed to boost its profit.

The earnings per share (EPS), indicating the profit each share generates, rose from Rs33.43 to Rs63.07 in the current year’s first half. Due to their success, the board of directors decided to distribute an interim cash dividend of Rs13.2 per share, in addition to the Rs24.5 per share already paid.

Although the company’s total revenue dropped by 41% to Rs50.91 billion, they achieved a gross profit of Rs4.72 billion, a significant improvement from the Rs2.85 billion loss in the same period last year. This positive change was mainly because they spent less on various items. The profit margin, reflecting profit compared to total revenue, increased from -3% to 9%.

Despite a 38% decrease in other income and lower finance costs, the Indus Motor Company’s profit before tax surged from Rs3.76 billion to Rs7.35 billion, marking a substantial 96% increase. They also paid more in taxes, with Rs2.4 billion in the current year compared to Rs1.1 billion last year.

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Toyota Pakistan’s Profit Soars By 89% in FY24
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Toyota Pakistan reveals strong financial performance for FY24 H1. FY24 Q2 sees...

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