Indus Motor halts production amid parts shortage

MG News | July 12, 2024 at 02:56 PM GMT+05:00

0:00

July 12, 2024 (MLN): Indus Motor Company Limited (PSX: INDU) has decided to close its production plant from July 15, 2024, to July 22, 2024 (both days inclusive), the company's filing on PSX revealed today.

The reason for the shutdown is the low inventory of manufactured vehicles and a shortage of parts and components for vehicle manufacturing due to supply chain challenges.

"In case of any change in plan will be updated accordingly," the notice concludes.

Back in April 2024, INDU reported its earnings for the first three months of 2024, achieving a profit of Rs 4.45 billion, reflecting a remarkable growth of 38.3% year-on-year (YoY).

Along with the results, the company announced an interim cash dividend of Rs34 per share.

This was in addition to the interim cash dividend of Rs37.7 per share already paid.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	158,465.06 390.15M	-1.02% -1635.97
ALLSHR	96,559.16 950.27M	-0.99% -966.38
KSE30	48,334.92 161.42M	-1.07% -524.48
KMI30	229,055.35 110.24M	-1.35% -3133.53
KMIALLSHR	63,239.37 426.71M	-1.12% -719.42
BKTi	44,632.28 59.89M	-0.70% -315.76
OGTi	31,295.76 12.54M	-0.78% -245.37

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	113,565.00	113,775.00 112,135.00	-180.00 -0.16%
BRENT CRUDE	64.75	64.79 63.92	0.35 0.54%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-0.55 -0.68%
ROTTERDAM COAL MONTHLY	92.50	0.00 0.00	-0.20 -0.22%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.45	60.52 59.70	0.30 0.50%
SUGAR #11 WORLD	14.25	14.45 14.21	-0.12 -0.84%