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