Islamabad, Oct 28: Toyota Pakistan’s Profits Surge 58% in Q1 FY2025
Toyota Indus Motor Company Limited (PSX: INDU) announced earnings (PAT) today for 1QFY25 at Rs. 5.1 billion (EPS: Rs. 64.77), depicting an increase of 58 percent YoY (1QFY24 EPS: Rs. 40.91).
The business also declared a cash dividend of Rs. 39.0 per share.
During the first quarter of FY25, net sales were Rs. 41.6 billion, up 27% year over year from Rs. 32.6 billion in SPLY. Arif Habib Limited claims that this was caused by increased volumetric sales, which were 6,160 units in 1QFY25 as opposed to 4,511 units in SPLY. Due to lower volumetric sales (4QFY24: 7,069 units) and a -16-day plant downtime during the quarter, revenue decreased by 23% on a sequential basis.
Gross margins for 1QFY25 are recorded at 13.4 percent, up from 10.1 percent YoY, primarily due to a stable PKR-USD parity and better margins on the Corolla Cross. On a sequential basis, gross margins saw a slight decline due to a shift in the sales mix, with a higher number of sedan models like the Corolla and Yaris being sold compared to the Corolla Cross during the quarter.
Other income increased by 58 percent YoY to clock in at Rs. 4.5 billion in 1QFY25, owing to higher cash and cash equivalents and short-term investments.
Finance cost increased by 98 percent YoY to clock in at Rs. 62 million in 1QFY25, primarily due to an increase in short-term borrowings.
The company booked effective taxation at 39 percent in 1QFY25 vis-à-vis 35 percent in SPLY.
