KARACHI: Indus Motor Company Ltd recorded earnings of Rs509 million in April-June, down 88 per cent on a year-on-year basis, a stock filing showed on Tuesday.

This brought the cumulative 2021-22 earnings to Rs15.8 billion, up 23pc from a year ago. “The result is well below our expectations… owing to a decrease in gross margins,” said AKD Securities.

The gross margin clocked in at 1.2pc for the quarter as opposed to 7.7pc in the preceding quarter, said the brokerage. The company also announced a final cash dividend of Rs3.30 per share, taking the cumulative payout during the year to Rs93.80 per share.

Can maker profit surges 2.5 times

Pakistan Aluminium Beverage Cans Ltd announced on Tuesday its earnings amounted to Rs966.1 million in the April-June quarter, up 2.5 times from the comparable period of the preceding year.

The company didn’t announce any payout. Top line growth clocked in at Rs3.9bn for the quarter, up more than two times from a year ago.

Meanwhile, the company also announced that it has increased its annual production capacity from 700 million cans to 950m cans.

Published in Dawn, August 31st, 2022

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