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	188,202.86 341.59M	-0.20% -384.80
ALLSHR	112,423.22 745.46M	-0.07% -79.96
KSE30	57,956.48 141.89M	-0.12% -70.41
KMI30	267,375.33 135.18M	-0.39% -1043.48
KMIALLSHR	72,363.20 391.84M	-0.20% -146.78
BKTi	53,485.97 53.11M	0.26% 139.85
OGTi	38,916.61 17.01M	0.72% 278.13

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,525.00	88,985.00 87,210.00	-60.00 -0.07%
BRENT CRUDE	67.16	67.26 65.00	1.57 2.39%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.65 -2.96%
ROTTERDAM COAL MONTHLY	99.00	0.00 0.00	0.30 0.30%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	62.07	62.19 60.14	1.44 2.38%
SUGAR #11 WORLD	14.83	15.01 14.74	0.04 0.27%