Toyota manufacturer shuts down its plant in Pakistan till October 31

Indus Motor Company informs Pakistan Stock Exchange (PSX) about shortage of raw materials it is facing
An undated image of Toyota logo. — DepositPhotos
An undated image of Toyota logo. — DepositPhotos

Indus Motor Company (IMC), the assembler of Toyota vehicles, has announced to suspend its operations for three days in Pakistan till October 31, citing low inventory levels.

The company informed the Pakistan Stock Exchange (PSX) about the shortage of raw materials and the supply chain challenges it is facing.

“The company is currently experiencing low levels of raw material and component inventory and is facing ongoing supply chain challenges. This has resulted in a shortage of parts and components necessary for vehicle production. Under these circumstances, the company is unable to meet its production requirements,” IMC explained.

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“Therefore, the company has decided to temporarily suspend operations at its production plant from October 29, 2024, to October 31, 2024, both days inclusive,” it concluded.

Earlier, the automobile company informed the PSX about a profit of Rs5.09 billion for the quarter ended September 30, 2024 (1QFY25), an increase of 58% compared to earnings of Rs3.22 billion in the same period in 2023.

Moreover, the company’s earnings per share (EPS) stood at Rs64.77 in 1QFY25 compared with an EPS of Rs40.91 in the same period of 2023.

Indus Motors also declared an interim cash dividend of Rs39 per share, a 390% payout for the first quarter of the current fiscal year.