Atlas Honda suffers losses of Rs 117 million during 2QCY20
MG News | July 28, 2020 at 04:50 PM GMT+05:00
July 28, 2020 (MLN): Atlas Honda Limited has posted losses of Rs. 117.7 million (LPS: Rs. 0.95) for the three months ended June 30, 2020, as compared to the profits of Rs. 842.1 million (EPS: Rs. 6.79) reported in the same period of last year.
According to the financial report submitted by the company to Pakistan Stock Exchange, the revenue of declined by around 60% due to the impact of COVID-19 pandemic on the volumetric sale. As a result, the gross profits of the company came down by almost 95%.
On the other hand, there was a decline of 98% in the non-core expenses, which gave some relief to the company’s financial wellbeing. The other income increased by merely 1%.
The major highlight of the results was the 113% increase in finance costs due to increase in the overall borrowings.
The company did not pay any taxes during the period under review.
| Financial Results for the quarter ended June 30, 2020 (Rupees' 000) | |||
|---|---|---|---|
| Jun-20 | Jun-19 | % Change | |
| Sales - net | 9,158,229 | 22,832,003 | -60% |
| Cost of sales | (9,069,509) | (21,116,323) | -57% |
| Gross Profit | 88,720 | 1,715,680 | -95% |
| Sales and marketing expenses | (295,325) | (524,177) | -44% |
| Administrative expenses | (152,841) | (158,305) | -3% |
| Other income | 265,579 | 263,124 | 1% |
| Other operating expenses | (1,833) | (90,214) | -98% |
| Finance costs | (11,269) | (5,301) | 113% |
| Share of profit of associate | (10,815) | 2,105 | |
| (Loss)/Profit before taxation | (117,784) | 1,202,912 | |
| Income tax expense | - | (360,785) | |
| (Loss)/Profit after taxation | (117,784) | 842,127 | |
| (Loss)/Earnings per share | -0.95 | 6.79 |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
| ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
| KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
| KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
| KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
| BKTi | 37,831.34 13.04M | 1.62% 603.62 |
| OGTi | 27,440.63 3.93M | -0.09% -23.70 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 118,565.00 | 119,740.00 118,145.00 | 270.00 0.23% |
| BRENT CRUDE | 73.33 | 73.63 71.75 | 0.82 1.13% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 70.05 | 70.51 68.45 | 0.84 1.21% |
| SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|