The Board of Directors of Indus Motor Company Limited have announced the company’s financial and operating performance for the year ended December 31, 2012. After a record FY 2011-12, the sales and production of Indus Motor Company for the first half year of the current FY 2012-13 ended on a depressing note. The sales of Toyota brand (CKD and CBU) vehicles were down by 38% to 14,994 units compared to 24,341 units sold in the same period last year. The presence of used imported car models in the category of Corolla class also played a part in impacting the sales of the company and severely restricted IMC’s market share of locally manufactured vehicles that declined to 25% compared to 30% achieved for corresponding period last year. The sluggish market demand forced the Company to shut down the plant facility for 53 non-production days. However, the Company remained steadfast in its commitment to its employees and did not allow any worker layoff which was appreciated by the entire workforce and the government. The Company net sales revenue for first half year ended December 2012 decreased by 26% to Rs 24 billion as compared to Rs 33 billion for the same period last year, while profit after tax amounted to Rs 0.98 billion versus Rs 1.77 billion for the same period last year.
