Indus Motor Company reports profit surge despite production shutdowns

Indus Motor Company Ltd (IMC) announced a temporary shutdown of production from October 29-31 due to a shortage of parts. This follows previous shutdowns earlier in the year, highlighting ongoing supply chain issues. Despite these closures, IMC reported a 27% increase in net sales for the quarter ending September 30, reaching Rs41.6 billion. Profit-after-tax rose by 58% to Rs5.091 billion, driven by lower input costs and increased sales of CKD units. The company's earnings per share increased to Rs64.77, up from Rs40.9 last year. IMC declared a cash dividend of Rs39 per share, while its CEO noted the need for government reforms to improve vehicle affordability.