INDU: Profitability drops by 62% YoY in 9MFY23
MG News | April 26, 2023 at 11:38 AM GMT+05:00
April 26, 2023 (MLN): Automaker, Indus Motors Company Limited (INDU) on Wednesday reported net profits of Rs5.82 billion [EPS: Rs74.35] during 9MFY23, down by a 62% YoY against Rs15,29bn [Rs194.56] net profits in the same period last year.
The financial result was accompanied by a cash dividend for the quarter at Rs24.40 per share i.e., 244%. This is in addition to the interim cash dividend of Rs18.4 per share i.e., 184% already paid.
During the period under review, the top line witnessed a 34% YoY decrease to Rs135bn mainly due to the import ban which created a shortage of CKD, etc.
Simultaneously, the cost of sales dropped by 27.45% YoY has also decline that forced the gross margin to slump by 14 ppt in 9MFY23 compared to 8.63% in 9MFY22.
On the expense side, INDU’s distribution expenses decreased by 6% YoY to Rs1.17bn whereas, the admin cost moved up by 5.33% during the period under review.
Notably, the company posted a 50.71% YoY rise in other income to Rs11.65bn in 9MFY23.
On the tax front, the effective tax rate has jumped to 32% as compared to 27.8% in 9MFY22.
|
Financial results for the nine months ended March 31, 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Mar-23 |
Mar-22 |
% Change |
|
Revenue from contracts with customers |
135,032,743 |
203,407,342 |
-33.61% |
|
Cost of sales |
134,835,759 |
185,839,697 |
-27.45% |
|
Gross profit |
196,984 |
17,567,645 |
-98.88% |
|
Distribution expenses |
1,171,369 |
1,246,245 |
-6.01% |
|
Administrative expenses |
1,599,617 |
1,518,714 |
5.33% |
|
Other operating expenses |
196,424 |
79,205 |
147.99% |
|
Workers' Profit Participation Fund and Workers' Welfare Fund |
175,465 |
1,187,987 |
-85.23% |
|
Other income |
11,653,195 |
7,732,248 |
50.71% |
|
Finance cost |
109,535 |
75,834 |
44.44% |
|
Profit before taxation |
8,597,769 |
21,191,908 |
-59.43% |
|
Taxation |
2,753,804 |
5,899,409 |
-53.32% |
|
Profit after taxation |
5,843,965 |
15,292,499 |
-61.79% |
|
Earnings per share - basic and diluted (Rupees) |
74.35 |
194.56 |
-61.79% |
Copyright Mettis Link News
Related News
_20260529073616622_a5048c.jpeg?width=280&height=140&format=Webp)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 173,962.82 313.69M | 1.30% 2237.52 |
| ALLSHR | 104,178.62 550.40M | 0.93% 964.13 |
| KSE30 | 52,166.33 164.58M | 1.26% 649.19 |
| KMI30 | 250,496.48 141.11M | 1.59% 3930.77 |
| KMIALLSHR | 67,844.06 318.73M | 1.20% 801.29 |
| BKTi | 47,430.11 44.68M | 0.28% 130.40 |
| OGTi | 36,386.96 9.01M | 0.13% 45.59 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 74,260.00 | 74,260.00 73,715.00 | 545.00 0.74% |
| BRENT CRUDE | 91.89 | 92.95 89.93 | -0.81 -0.87% |
| RICHARDS BAY COAL MONTHLY | 117.00 | 0.00 0.00 | -0.75 -0.64% |
| ROTTERDAM COAL MONTHLY | 130.25 | 131.75 130.00 | -0.20 -0.15% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 87.76 | 89.02 86.35 | -1.14 -1.28% |
| SUGAR #11 WORLD | 14.07 | 14.35 13.90 | 0.14 1.01% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|