Atlas Honda delivers strong results, rewards shareholders with 240% dividend

April 28, 2023 (MLN): Atlas Honda Limited (PSX: ATLH) has revealed its financial results for the year ended March 31, 2023, as per which, the company posted a profit worth Rs5 billion [EPS: Rs40.33] during the year as against a profit of Rs5.58bn [EPS: Rs45.03] in the corresponding year.

Along with the result, the company announced a final cash dividend for the year ended March 31, 2023, of Rs13 per share i.e. 130%. This is in addition to the interim dividend already paid at Rs11 per share i.e. 110%. The total cash dividend for the year ended March 31, 2023, was Rs24 per share i.e. 240%.

According to the financial report released today, the topline inched up by 2.7% YoY to Rs135.48bn for the year, as compared to Rs131.93bn last year.

While the major expense heads of the company scaled up during the year, with sales and marketing expenses, and administrative expenses up by 12.8% and 11.7% YoY respectively.

Meanwhile, other operating expenses surged 3.43x YoY and stood at Rs2.15bn for the year in comparison to just Rs629.26 million last year.

The company paid Rs3.09bn in terms of tax expenses during the year, which was 38.7% YoY higher than the taxes paid last year.

To note, the annual general meeting of the company will be held on Wednesday, June 21, 2023.

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