KARACHI: The profit after tax of Indus Motor Company (IMC) declined by 23 per cent to Rs3.3 billion in 2012-13 as compared to Rs4.3bn in FY12.
Earnings per share decreased to Rs42.72 as compared to Rs54.7 in the previous year, an IMC press release said on Tuesday.
Sales of Toyota CKD and CBU decreased by 28pc to 39,774 units in FY13 as compared to 55,060 units sold during the same period last year.
The IMC’s board of directors met on Tuesday to review the company’s financial and operating performance for the year ended June 30, 2013.
The sales revenue for FY13 was Rs63.8bn, down by 17pc as compared to Rs77bn in the same period last year.
IMC said it was compelled to cut production in FY13 because of adverse market conditions like huge influx of used cars, weak economy, energy shortage and poor law and order situation. The firm reduced the production to 37,321 units, down by 32pc as compared to 54,917 units produced during FY12.
The board of directors declared a final cash dividend of Rs15 per share, making for a total of Rs25 per share during the year.
