Atlas Honda records 57% YoY profit growth

MG News | April 30, 2025 at 12:17 PM GMT+05:00

0:00

April 30, 2025 (MLN): Atlas Honda Limited (PSX: ATLH) has reported an impressive 57.1% year-on-year (YoY) increase in its profit after tax, reaching Rs15.25 billion (EPS: Rs122.91) for the year ended March 31, 2025, compared to Rs9.71bn (EPS: Rs78.45) in the previous year.

The company has declared a final cash dividend of Rs42 per share (420%), in addition to the interim dividend of Rs32 per share (320%), bringing the total cash dividend to Rs74 per share (740%).

Sales for the year grew by 28.0%, reaching Rs203.89bn, up from Rs159.29bn in FY24.

This growth was supported by an exceptional 81.4% rise in gross profit, which climbed to Rs22.18bn from Rs12.23bn in the prior year.

Despite a rise in the cost of sales by 23.56%, which amounted to Rs181.71bn compared to Rs147.07bn last year, the company’s robust sales growth led to a substantial improvement in profitability.

Operating expenses saw an increase, with sales and marketing expenses rising by 20.7% to Rs4.41bn, and administrative expenses up by 21.7% to Rs1.31bn.

Other income saw a modest increase of 1.45%, reaching Rs9.19bn, contributing to the overall positive performance.

The share of profit from an associate surged by 337.98%, reaching Rs54.64 million, compared to Rs12.48m in the previous year, further boosting profitability.

Other operating expenses increased by 69.32% to Rs1.25bn, but this was offset by strong operating profit, which grew by 54.46%, reaching Rs24.47bn compared to Rs15.84bn last year.

Finance costs rose by 22.91% to Rs125.49m, primarily due to higher interest rates, but this increase was more than compensated by the growth in sales and profitability.

On the tax front, the company paid Rs8.38bn in current taxes, reflecting an increase of 73.3% compared to Rs4.84bn in FY24.

Additionally, the company recognized deferred tax expenses of Rs8.8bn, up 58.24% from the previous year.

Statement of Profit and Loss for the Year Ended March 31, 2025 (Rupees in '000)
Note	Mar-25	Mar-24	%Change
Sales	203,894,438	159,292,229	28.00%
Cost of sales	(181,714,324)	(147,065,100)	23.56%
Gross profit	22,180,094	12,227,129	81.40%
Sales & marketing expenses	(4,408,844)	(3,651,933)	20.73%
Administrative expenses	(1,306,075)	(1,073,333)	21.68%
Other income	9,192,365	9,061,152	1.45%
Other operating expenses	(1,245,028)	(735,295)	69.32%
Share of net profit of an Associate	54,638	12,475	337.98%
Operating profit	24,467,152	15,840,097	54.46%
Finance costs	(125,485)	(102,099)	22.91%
Profit before levies & income tax	24,341,667	15,738,098	54.67%
Minimum tax differential	(19,281)	(54,208)	-64.43%
Final taxes	(273,413)	(416,862)	-34.41%
Profit before income tax	24,048,233	15,267,028	57.52%
Income tax
- Current tax for the year	(8,382,988)	(4,837,340)	73.30%
- Current tax for prior year	(387,453)	(478,358)	-19.00%
- Deferred tax for the year	(8,796,618)	(5,558,983)	58.24%
Profit for the year	15,251,615	9,708,048	57.10%
Other comprehensive income
- Re-measurements of staff retirement benefit obligation	60,338	3,571	1589.67%
- Income tax on re-measurements	(23,532)	(1,351)	1641.82%
Total comprehensive income	15,288,421	9,710,265	57.45%
Earnings per share - Basic & diluted	122.91	78.45	56.67%

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