Atlas Honda’s annual profits decline by 31%

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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Posted on: 2019-04-24T17:35:00+05:00

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