Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

Honda Atlas Cars Pakistan Ltd. profits increase 27.51% to Rs. 5.120 billion

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Honda Atlas Cars Pakistan Ltd. (HCAR) posted nine month results for the year 2017, just shy of industry expectations. The Honda Atlas Cars have seen significant surge in sales over the last year as new Civic variant has gone on to post record sales numbers beating the Toyota’s Corolla model.

HCAR’s Nine Months’ profit after taxation during 2017 clocked in at Rs. 5.12 billion against industry expectations of Rs. 5.2 billion.

The company’s EPS was in line of the expectations as well, clocking in at Rs. 35.86 vs. analyst estimates of Rs. 36.55, declining by 27.52% from same period last year.

HCAR reported an increase of 57.55% Sales, and an increase of 63.07% in cost of sales. Moreover, Gross Profit for the reported period shot up by 26.61%. The company also reported an increase of 112% in other operating incomes.

Finance Costs for the period declined by more than 50% during the period as well.

 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – April to December 31st 2017

Key Financials

2017

2016

% Change

 

Amounts in PKR ‘000

Sales

65,746,079

41,729,032

57.55%

Cost of Sales

57,759,240

35,420,666

63.07%

Gross Profit

7,986,839

6,308,366

26.61%

Distribution & Marketing Cost

498,630

332,143

50.13%

Administrative Expenses

446,776

358,998

24.45%

Other operating income

1,414,082

665,601

112.45%

Other operating expenses

826,400

424,969

94.46%

Profit from Operations

7,629,115

5,857,857

30.24%

Finance Cost

9,409

19,094

-50.72%

Profit before Taxation

7,619,706

5,838,763

30.50%

Taxation

2,498,935

1,822,891

37.09%

Profit after Taxation

5,120,771

4,015,872

27.51%

EPS – Basic & diluted

35.86

28.12

27.52%

Company release on Earnings Report can be accessed here.

Posted on: 2018-01-23T13:19:00+05:00