LAHORE : indus Motor Company (INDU) has announced 9MFY14 earnings Rs2.3b (EPS Rs29.5) as against Rs1.7b (EPS Rs22.0) in the same period last year, up 34% YoY.  Improvement in earnings is primarily attributable to 4.8%YoY increase in sales revenue to Rs44.8bn, mainly contributed by 3.5% volumetric growth in local sales to 26,727 units. In 9MFY14, gross margins of INDU increased by 1.7% to 8.9%, driven by recent appreciation of PKR against US dollar caused margins to surge. During 3QFY14, company reported EPS of Rs12.3 as compared to Rs6.0 in 2QFY14 (up 105%QoQ) and Rs9.6 in 3QFY13 (up 28.9%YoY).

 The quarter on quarter increase is attributed to volumes improvement by 71% due to new year phenomenon. During 3QFY14, gross margins stood at 8.8% vs. 7.4% in preceding quarter.