Indus Motor Company to announce financial result for 1QFY23 on 26th Oct’22.

Indus Motor Company Limited (INDU) is expected to announce financial result for 1QFY23 on 26th Oct’22. The company is projected to post a net profit of PKR 3.7bn (EPS: PKR 47.5), down by 31% YoY as gross margins are expected to decline substantially by (-990 bps YoY) due to higher cost of production on the back of rupee devaluation and increased commodity prices. Additionally, a downfall in gross margins is also expected on a sequential basis (-30bps QoQ) as the price hikes has led sales volume to shrink; further, the policy by SBP to curtail imports has resulted in lower production and sales. Company is expected to post topline of PKR 47,279mn (-28% YoY) on the back of lower volumetric sales (-52%) with major contributions coming from Yaris (-61% YoY), followed by Hilux (-54% YoY). Other income is expected to grow by 207% YoY, it is mainly driven by higher interest income on increased advances from customers. In addition to the result, the company is expected to announce an interim cash dividend of PKR 24.00/share (PKR 34.50/share in 1QFY22).

Courtesy – AHL Research 

Posted in Telecommunication & Automobile News.

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