Indus Motor Company (INDU) announced its fourth quarter 2015-16 results, in which the company reported profit after tax of Rs 2.6 billion (EPS Rs 33.2), a decline of 3 per cent year-on-year (YoY). The result accompanied a final cash dividend of Rs 40/share, taking the company’s total payout to Rs 100/share for 2015-16.
INDU’s net sales rose 2.6 per cent YoY to Rs 29.1 billion. Volumetric sales growth remained in check as company sold 16,473 units in the outgoing quarter as against 16,802 units in the same period last year. This was primarily due to a 6.9 per cent YoY decline in sales of Corolla, the company’s flagship vehicle, to 14,108 units. Sale of other variants provided some support as unit sales of Hilux grew 48.3 per cent YoY to 2,191 units while those of Fortuner increased 5.5 per cent to 174 units in the period under review.
According to the company, “a generally favorable operating environment enabled Indus Motor Company Limited (Indus) to post phenomenal results, with gross sales revenue of Rs. 131 billion, up 13 per cent compared to Rs 116 billion for 2014-15, while profit after tax grew 26 per cent to Rs 11.5 billion from Rs 9.1 billion last year. The increase in earnings is mainly attributable to an additional sales volume of 7,197 units, improvement in operational efficiencies and tighter control over fixed costs.”
The Board of Directors of Indus Motor Company Ltd, met on Thursday 25th August to review the company’s financial and operating performance for the year ended June 30.
