The Board of Directors of Indus Motor Company Ltd. (IMC) met on August 26, 2021 to review the company’s financial and operating performance for the year ended June 30, 2021.
The increase in turnover and profitability for the year was mainly due to higher CKD and CBU volumes, primarily due to improved economic conditions and healthy demand generated on account of launch of the facelift models of Corolla, Hilux and Fortuner along with wider acceptance of Toyota Yaris, the best-selling sedan for the year.
The profitability also increased on account of increase in other income mainly due to return on placements on account of improved fund position of the Company.