Indus Toyota 2019 Profit declines by 13% to Rs. 13.7 billion

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Indus Toyota 2019 Profit declines by 13% to Rs. 13.7 billion

Indus Toyota Ltd (INDU) announced its Full Year 2019 Financial Results where it posted Net Profit of Rs. 13.72 billion (EPS: Rs. 174.49/share) marking a 13%YoY decline.

INDU Sales grew by 13% YoY to Rs. 158 billion. However, Gross Profit declined by 20% as the company faced declining margins amid cost pressures. The finance cost remained limited as INDU had ample liquidity to fund its operations.

Full-year dividend payout stands at Rs.115/share leading to a payout ratio of 66% as compared to 70% in FY18, a considerably tamed decline considering the firm is undertaking significant expansions.

Rupees in Million FY19 FY18 YoY%
Net Sales 157,996 139,715 13%
Cost of sales 138,805 115,831 20%
Gross profit 19,192 23,885 -20%
Distribution expenses 1,404 1,284 9%
Administrative expenses 1,410 1,524 -7%
Total operating expenses 2,814 2,808 0%
Operating profit 16,378 21,077 -22%
Other operating expenses 1,641 1,898 -14%
Other operating income 4,307 3,901 10%
EBIT 19,043 23,079 -17%
Finance costs 67  80 -16%
Profit Before Tax 18,976 22,999 -17%
Taxation 5,261 7,227 -27%
Net Profit 13,715 15,772 -13%

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