KARACHI: Despite the difficult economic conditions, Indus Motor Company (IMC), the company that assembles Toyota vehicles, reported a 61% growth in its profit-after-tax (PAT) to Rs9.41 billion for 9MFY24.
From Rs5.48 billion during the same period in the previous fiscal year, this represents a notable increase. From Rs135.03bn during the same period last year to Rs98.23bn this year, net sales turnover decreased.
Ali Asghar Jamali, chief executive of IMC, stated that the auto sector has suffered greatly due to the unrelenting import of used cars, which has resulted in a decline in consumer demand.
FFCL revenue increases.
The net profit of Fauji Fertiliser Company Ltd (FFCL) increased by 36% to Rs10.52 billion (EPS: Rs8.27) in 1QCY24 from Rs7.73 billion (EPS: Rs 6.08) in 1QCY23.
A press release from the corporation stated that while profitability in dollars was $38 million, it stayed at 2021 levels.
Additionally, the first interim dividend of Rs5.5 per share for the quarter was declared by the board of directors.
