Lahore : Board of Directors of Indus Motor Company Limited in meeting Wednesday after reviewing financial and operating performance for half year ended December 31, 2011 announced interim dividend of Rs 8 per share for half year ended December 2011.
A IMC press release said, automotive industry had to face many challenges during fiscal year 2012 including managing severe supply disruption due to floods, with steep rupee devaluation, increased cost pressures due to energy shortages and influx of used cars. During half year sales grew by 6.3% to 24,341 units compared to 22,903 units sold for same period last year. Correspondingly production also increased by 3.5% to 24,316 units as against 23,482 produced in same period last year. Company s combined sales revenue for CKD, CBU & Parts business amounted to Rs 33 billion and profit after tax stood at Rs 1.77 billion on account of increased sales volume and cost efficiencies.
Going forward challenges for auto industry will be depreciating rupee, resultant cost pressures, expiry of AIDP, correcting commodity prices which may impact rural buying, impact of ban on CNG cylinders, conversion kits imports and influx of imported used cars. The company will remain focused on improving its operational efficiencies to counter these challenges and deliver maximum value to its customers, press release said.
