Atlas Honda’s annual profits decline by 31%

12:35
April 24, 2019
MG

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%

Copyright Mettis Link News

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

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