Atlas Honda Ltd. profits rise 25.86% to Rs. 3.412 billion
MG News | January 31, 2018 at 01:36 PM GMT+05:00
ATLH today reported financial results for the quarter and nine month ending December, 2017. The Company reported a significant increase in the total sales which jumped by 20.48% to Rs. 56.511 billion.
Ever since a betterment of security conditions in Pakistan, the company has seen sales surge in the two wheelers gaining a significant share of the total market.
ATLH releases on the exchange show a decent performance during the last nine months. Gross Profit for the year increased by more than 25%, to reach Rs. 6.182 billion against Rs. 4.928 billion during same period last year. Company also reported a proportionate increase in the Administration, Sales & Marketing, and other Operating Expenses during the period.
Company’s bottom line profits also grew by more than 25% to clock in at Rs. 3.412 billion vs. Rs. 2.711 billion last year.
Other income took a fall of more than 16%, to reach 505 million, while reporting an EPS at Rs.33.00 vs. an EPS of Rs. 26.22 during the nine months ending December, 2016.
As per an additional release following the financial results, Atlas Honda Management approved a capital expenditure of Rs. 2.2 billion. The details of said Capex were not revealed by the company.
| Unconsolidated Profit and Loss Account - For the Nine Months Ended, December 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Sales | 56,511,563 | 46,904,938 | 20.48% |
| Cost of Sales | 50,329,402 | 41,976,755 | 19.90% |
| Gross Profit | 6,182,161 | 4,928,183 | 25.45% |
| Sales and Marketing Expenses | 1,346,627 | 1,163,432 | 15.75% |
| Administrative Expenses | 479,488 | 414,942 | 15.56% |
| Other Income | 505,522 | 606,881 | -16.70% |
| Other Operating Expenses | 354,070 | 298,411 | 18.65% |
| Operating Profit | 4,652,475 | 3,695,476 | 25.90% |
| Finance Costs | 13,780 | 18,244 | -24.47% |
| Profit before Taxation | 4,638,695 | 3,677,232 | 26.15% |
| Taxation | 1,226,346 | 965,900 | 26.96% |
| Profit for the Period | 3,412,349 | 2,711,332 | 25.86% |
| Total Comprehensive Income | 3,412,349 | 2,711,332 | 25.86% |
| EPS - Basic and diluted | 33.00 | 26.22 | 25.86% |
Company release on Earnings Report can be accessed here.
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