KARACHI – Indus Motor Company Limited (IMC), the manufacturer of Toyota vehicles in Pakistan, has reported strong growth in sales, revenues, and profitability during the last fiscal year.
According to the annual report, IMC sold 33,757 vehicles, a 56% increase over the previous year. Yaris facelift launched in July 2024 fueled an 84% rise in passenger car sales, while the commercial vehicle segment grew 32% on stronger fleet demand. Net sales revenue climbed to PKR 215.14 billion from PKR 152.48 billion in FY 2023–24.
Prudent cost management, higher localisation, and favourable exchange rate movements drove profit before tax to PKR 37.67 billion, up from PKR 23.33 billion. Earnings per share increased to PKR 292.74 from PKR 191.76, while net profit after tax rose to PKR 23.01 billion, compared to PKR 15.07 billion last year.
Board of Directors announced a final dividend of PKR 50 per share, taking the annual dividend for the fiscal year 2024-25 to PKR 176 per share.
IMC CEO Ali Asghar Jamali said: “This year marked a period of cautious optimism for Pakistan’s economy and our industry. While challenges persisted, the broader macroeconomic environment showed signs of stabilisation, offering hope of a stronger foundation ahead.
Against this backdrop, I am pleased to report that IMC delivered improved performance, driven by product refresh, recovering demand, and prudent financial discipline. This outcome reflects the resilience of our teams, the loyalty of our customers, and the trust of our shareholders.”
The broader automotive industry also posted a recovery in FY 2024–25, with passenger car and light commercial vehicle sales rising 43% to nearly 148,000 units (PAMA). However, the sharp increase in used-vehicle imports, estimated at 40,000–45,000 units, now accounts for almost one-third of the domestic market compared to less than 10% up until 2023. It poses a serious threat to local manufacturing and pressures the country’s foreign exchange reserves.
IMC underscored the need for consistent and balanced policies that protect local industry while preserving consumer choice. Looking ahead, IMC expects demand momentum to continue in FY 2025–26, supported by lower interest rates, moderating inflation, and increased adoption of hybrid and electric vehicles.
