Indus Motor Company (IMC), the assembler of Toyota cars in Pakistan, has announced a three-day halt in production.
The manufacturer of Corolla and Yaris sedans, located in Karachi, cited insufficient inventory and a shortage of key parts as the reason for the suspension.
In a notice to the Pakistan Stock Exchange (PSX) on Monday, IMC said that it is facing supply chain disruptions. This has caused a lack of raw materials and components needed for production. Owing to this, the company cannot meet its manufacturing needs. IMC will suspend operations at its plant from October 29 to October 31.
Earlier, the company posted a profit of Rs5.09 billion for the quarter ending September 30, a 58 percent increase from Rs3.22 billion in the same period last year.
Earnings per share (EPS) rose to Rs64.77 in the first quarter of the ongoing fiscal year, up from Rs40.91 the previous year.
As per a recent report, car sales have dropped in Pakistan in the last three months.
