April 24, 2020 (MLN): Indus Motor Company on Friday announced the financial results for the nine months ended March 31, 2020, which showed a profit after tax figure of Rs. 4.98 billion (EPS: Rs. 63.41), i.e. 51% lower than the figures reported in same period of last year.
The company also paid a Cash Dividend at Rs. 10 per share, I.e. 10%. This is in addition to the combined interim Cash Dividend of 13 per share i.e. 130% already paid.
The revenue of the company declined by 36% owing to decline in volumetric sales, whereas gross profits declined by 48% on account of PKR devaluation.
The company’s distribution expense showed an increase of 24% due to the extensive advertisement and promotional activities carried out during the period.
Financial results for the nine months ended March 31, 2020 ('000 Rupees)
Mar-20
Mar-19
% Change
Net sales
75,830,354
117,979,946
-35.73%
Cost of sales
68,054,877
103,055,837
-33.96%
Gross profit
7,775,477
14,924,109
-47.90%
Distribution expenses
1,236,590
997,619
23.95%
Administrative expenses
1,032,047
1,001,001
3.10%
Other operating expenses
143,611
121,328
18.37%
Workers' Profit Participation Fund and Workers' Welfare Fund
