Atlas Honda's annual profits decline by 31%
By MG News | April 24, 2019 at 05:35 PM GMT+05:00
April 24, 2019 (MLN): Atlas Honda Limited announced its financial results for the year ended March 31, 2019, today. The results show that the company has suffered a decline in net profits by 31%. The PAT currently stands at Rs. 3.2 billion (EPS: Rs. 31.03).
The company’s gross margins fell by 21% on account of relatively larger increase in cost of sales (9%) as compares to sales revenue (6%).
Moreover, the Share of net profit of an Associate fell by 69%, which further dragged down the net earnings.
The company also announced a final Cash Dividend of at Rs. 10 per share, i.e. 100%.
| Profit and loss account for the year ended March 31 2019 (Rupees'000) | |||
|---|---|---|---|
| Mar-19 | Mar-18 | % Change | |
| Sales | 82,412,548 | 77,478,845 | 6.37% |
| Cost of sales | -75,856,677 | -69,188,101 | 9.64% |
| Gross profit | 6,555,871 | 8,290,744 | -20.93% |
| Sales and marketing expenses | -1,924,062 | -1,852,057 | 3.89% |
| Administrative expenses | -640,209 | -634,594 | 0.88% |
| Other income | 1,097,636 | 877,908 | 25.03% |
| Other operating expenses | -463,793 | -445,037 | 4.21% |
| Share of net profit of an Associate | 15,698 | 50,607 | -68.98% |
| Operating profit | 4,641,141 | 6,287,571 | -26.19% |
| Finance costs | -25,818 | -22,725 | 13.61% |
| Profit before taxation | 4,615,323 | 6,264,846 | -26.33% |
| Income tax expense | -1,406,664 | -1,601,211 | -12.15% |
| Profit for the year | 3,208,659 | 4,663,635 | -31.20% |
| Earnings per share | 31.03 | 45.10 | -31.20% |
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