Indus Motor has announced its first quarter result of 2014 on Tuesday, where the company booked profits of Rs 880 million (EPS: Rs 11.19) versus Rs 691 million (EPS: Rs 8.79) in first quarter of 2013, up by 27 percent year-on-year but down 46 percent in quarter to quarter basis, analysts at JS Global said. In first quarter of 2014, net sales for the company increased by 6 percent YoY on the back of higher product prices as unit sales increased by only 1 percent YoY, during the period.
At the same time, gross margins increased to 10.4 percent from 8.6 percent in 1QFY14 mainly due to rupee-yen parity, they said.