A company called Toyota Indus Motor Company (IMC) has released its financial results for the nine months ending March 31, 2022, and they’re not good (FY22).
In this period, the company made money of Rs. 15.29 billion, which is up 82% from the same period last year when the company made money of Rs. 8.45 billion in profit. The company also announced that it would pay an interim cash dividend of Rs. 26 per share.
The nine-month period saw a rise in turnover and profit because of more sales and more other income.
India’s net sales for the nine months ending March 31, 2022, rose by 55% from the same period last year because of an increase in car prices and more sales.
Passed-on prices have largely absorbed the effects of rising costs. The company’s gross margins were 8.64 percent, up 44 percent because of the passed-on expenses, which have largely covered the costs of higher freight costs and steel prices.
The company’s other income jumped from Rs. 3.89 billion to Rs. 7.73 billion because customers gave the company money and interest rates went up, making more money.
The income per share of the company went up from Rs. 44.9 to Rs. 65.1, which is a big change. It closed at Rs. 1,347, down Rs. 24.5 or 1.79 percent, with 16,092 shares traded on Tuesday.
Toyota IMC has had steady sales over the last few months, which has helped it make money. Around 7,000 cars were sold each month last year by the company. The Toyota Yaris was its best-selling car. The delivery times for Toyota IMC were also better than those of its competitors.
However, the CEO of Toyota IMC, Ali Asghar Jamali, says that the price hikes will hurt the demand for cars. Toyota has already changed the price of its vehicles twice this year, and it had to stop taking reservations for a short time.
This could affect the company’s sales and profit margins in the next few days, so pay attention to that.