Indus motors' annual profits rise by 21% due to increased net sales

By MG News | August 28, 2018 at 12:37 PM GMT+05:00

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Indus Motor Company Limited’s annual profits witnessed a growth of 21%, mainly due to increased net sales during the year ended June 30^th 2018.

The company conducted its Board of Directors meeting on August 28, 2018, in which the board revised its financial earnings for the year.

On year-on-year basis, Indus Motors’ Net sales grew by almost a quarter, leading to a 23% increase in gross profit.

On the whole, all the incomes and expenditures rose but the positive impact persisted as the company’s overall profits for the period rose from Rs.13 billion to Rs.15.7 billion.

Apart from this, the Earnings per share grew by 21% as well, rising from Rs.165.4 per share to Rs.200.66 per share.

Financial results for the half year ended June 30th 2018 ('000 Rupees)
	Jun-18	Jun-17	% Change
Net sales	140,207,524	112,271,656	24.88%
Cost of sales	115,830,771	92,449,955	25.29%
Gross profit	24,376,753	19,821,701	22.98%
Distribution expenses	1,283,889	1,227,647	4.58%
Administrative expenses	1,523,800	1,053,340	44.66%
Other operating expenses	193,620	176,918	9.44%
Workers' Profit Participation Fund and Workers' Welfare Fund	1,704,557	1,418,456	20.17%
Other income	3,900,685	3,593,425	8.55%
Finance cost	572,406	397,998	43.82%
Profit before taxation	22,999,166	19,140,767	20.16%
Taxation	7,227,306	6,139,502	17.72%
Profit after taxation	15,771,860	13,001,265	21.31%
Earnings per share - basic and diluted (Rupees)	200.66	165.41	21.31%

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