Indus Motor Company (IMC) Limited has registered Rs 5.9 billion profit during the first half of current fiscal year. According to details, the Board of Directors of IMC met on February 25, 2016 to review the financial results for the half year ended December 31, 2015.
The combined (CKD and CBU) sales for the first half of FY 2015-16 increased by 34 percent to 30,896 units as against 23,081 units sold last year. The production of passenger cars (PC) and light commercial vehicles (LCV) for the half year stood at 30,474units, which is up 31 percent over 23,221 units produced during the corresponding period last year.
The company's net sales revenue and profit after tax for the first half of the year 2015-16 was Rs 51.3 billion and Rs 5.9 billion, respectively, as compared to Rs 39.1 billion and Rs 3.1 billion, respectively, for the same period last year. The increase in both revenues and profits is mainly attributable to the higher sales volumes and margins and tighter control on fixed costs. Based on the results of the company, the Board of Directors of IMC has declared a second interim dividend of Rs 20 per share for the half year ended December 31, 2015.
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