KARACHI: Indus Motor Company (IMC), the assembler of Toyota vehicles, posted a 61 per cent increase in its profit-after-tax (PAT) to Rs9.41 billion during 9MFY24 despite the challenging economic conditions.

This is a significant jump from Rs5.48bn in the same period last fiscal year. Net sales turnover fell to Rs98.23bn from Rs135.03bn in the same period last year.

IMC chief executive Ali Asghar Jamali said the unabated import of used cars has wreaked havoc on the auto industry, followed by plummeting customer demand.

FFCL income rises

Fauji Fertiliser Company Ltd (FFCL) reported 36pc increase in its net profit to Rs10.52bn (EPS: Rs8.27) during 1QCY24 versus Rs7.73bn (EPS: Rs 6.08) in 1QCY23.

According to a company press release, profitability in dollar terms, at $38 million, however, remained static at the level of 2021.

The board of directors also announced a first interim dividend of Rs5.5 per share for the quarter.

Published in Dawn, April 30th, 2024