Indus Motor Company Ltd. (INDU), the maker of Toyota vehicles in Pakistan, has announced a temporary suspension of operations at its production plant due to ongoing supply chain disruptions and a shortage of essential raw materials and components.
The suspension will last from October 29 to October 31, 2024, according to a notice submitted to the Pakistan Stock Exchange (PSX) on Monday.
“The company is currently experiencing low levels of raw material and component inventory and is facing ongoing supply chain challenges. This has resulted in a shortage of parts and components necessary for vehicle production,” read the company’s notice to the PSX.
As a result, the company said it is unable to meet its production requirements.
Last month, Indus Motor also temporarily suspended its operations, from September 26 to September 30, 2024, due to supply chain disruptions. The company cited a shortage of raw materials and components, which has hindered its ability to meet production requirements.
Indus Motors posted a net profit after tax (NPAT) of Rs5.1 billion (EPS: Rs64.77) for the first quarter of fiscal year 2025 (1QFY25), marking a 58% year-on-year (YoY) increase but a 10% decline quarter-on-quarter (QoQ).
According to IMS Securities, the earnings surpassed expectations, largely due to higher-than-anticipated margins and steady other income. Alongside the earnings report, the company declared a dividend of Rs39 per share.
