IMC earns Rs15.77bn

KARACHI: Indus Motor Company (IMC) recorded FY18 profit after tax at Rs15.77 billion, up 21 per cent, from Rs13bn in FY17. Earnings per share of Rs52.6 - higher by 50pc.

The board also announced a final cash dividend of Rs 45 per share. Total revenues improved by 43pc due to 17pc higher volume - the company sold 16,641 units in 4QFY18 - and increase in car prices.

According to Topline Securities, IMC’s gross profits rose by 47pc while gross margins increased by 47 basis points to 17pc in the outgoing quarter. This was despite the significant rupee depreciation witnessed in the last two quarters which was passed on to the consumers.—Staff Reporter

Soneri Bank profit jumps 20.22pc

KARACHI: Soneri Bank Ltd posted profit after tax of Rs975.98 million for the half year ended June 30, 2018, higher by 20.22 per cent over corresponding period last year. This translated into earnings per share of Rs0.8853.—Staff Reporter

PEL to launch TVs and washing machines

KARACHI: Pak Elektron Ltd (PEL) has planned to enter into television and washing machine market with the former expected to be introduced by this September while the latter by mid 2019.

Published in Dawn, August 29th, 2018