KARACHI – Indus Motor Company Limited has announced its financial results for the half-year FY 24-25 ended December 31, 2024, showcasing strong growth amidst signs of economic recovery in Pakistan.
The Company’s net sales turnover for the six months ended December 31, 2024, surged to Rs84.88 billion, up from Rs50.91 billion in the corresponding period last year.
This significant increase was primarily driven by higher sales volumes of CKD and CBU vehicles, alongside improvements in cost efficiencies and localization efforts.
During the period under review, the IMC posted a substantial increase in Profit After Tax (PAT), rising to Rs9.96 billion, as compared to Rs4.96 billion in the same period last year. The impressive profitability growth is attributed to increased volumes, lower input material costs, favorable exchange rate movements, and optimized cost management initiatives. Additional earnings from investments also played a key role in strengthening the Company’s financial position.
Ali Asghar Jamali, Chief Executive Officer of IMC, commented, “This half of FY 2024-25 has been marked by a stable economic outlook, improved trade balance, and lower inflation, which have positively impacted the auto industry.
While these developments are encouraging, challenges remain due to high taxation and duties that continue to affect vehicle affordability. “We urge the government to introduce policy measures such as reducing import duties, rationalize the depreciation rates on used car imports, and ease the restrictions on auto financing to facilitate market expansion and further boost local manufacturing.”
The Company’s Earnings Per Share (EPS) for the half-year stood at Rs126.69, as compared to Rs63.07 in the same period last year. In light of the positive performance, the Board of Directors has declared a second interim cash dividend of Rs37 per share, compared to Rs13.20 per share in the corresponding period last year.
Additionally, the Board of Directors has appointed Giri Venkatesh as a Director, following the resignation of Akihiro Murakami, effective February 27, 2025.
