Profit after tax of Indus Motors declines

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Highlights - Corporate News

The profit after tax of Indus Motors Company has declined to Rs 2. 743 billion in the year ended June 30, 2011 (FY11) as compared to Rs 3. 443 billion earned in the year FY10.. The company s earning per share reduced to Rs 34. 90 in the period under review against Rs 43. 81 in the same period last year.

The board of directors of the company in its meeting held on Wednesday recommended final cash dividends for the year ended June 30, 2011 at Rs 10 per share ie 100 percent.. This is in addition to interim dividend already paid at Rs 5 per share ie 50 percent.. According to the financial results sent to Karachi Stock Exchange (KSE), the company s net sales increased to Rs 61. 702 billion in the year FY11 against Rs 60. 093 billion in FY10.

The cost of sales increased to Rs 57. 613 billion against Rs 55. 236 billion.. The company s distribution expenses increased to Rs 690. 130 million against Rs 468. 496 million while administrative expenses increased to Rs 462. 517 million against Rs 381. 575 million.

The company s other operating expenses reduced to Rs 355. 796 million against Rs 416. 106 million while other operating income declined to Rs 1. 507 billion against Rs 1. 796 billion.. The company s profit before taxation declined to Rs 4. 011 billion in FY11 against Rs 5. 242 billion earned in FY10.

Courtesy: Business Recorder

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