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HomeEquityAtlas Honda’s bottom-line earnings decline by 27%

Atlas Honda’s bottom-line earnings decline by 27%

October 28, 2019 (MLN): Atlas Honda Limited has announced earnings of Rs. 1.4 billion (EPS: 11.38) for the half year ended September 30, 2019, i.e. around 27.2% lower than the earnings reported in same period of last year.

According to the official document released by the company, the gross profits of the company slumped by 19.7% on account of persistent Rupee devaluation.

Moreover, the finance costs increased by 25.8% due to hike in interest rates.

On the brighter side, the non-core income surged by 24% whereas the non-core expense declined by 22.5%.

The company also announced an Interim Cash Dividend for the above stated period at Rs. 6.5 per share i.e. 65%.

Profit and Loss for the half year ended September 30, 2019 ('000 Rupees)

 

Sep-19

Sep-18

% Change

Sales

41,302,591

41,155,604

0.4%

Cost of Sales

(38,278,670)

(37,391,127)

2.4%

Gross Profit

3,023,921

3,764,477

-19.7%

Sales and Marketing Expenses

(1,013,103)

(927,429)

9.2%

Administrative expenses

(329,876)

(317,819)

3.8%

Other operating income

539,037

435,148

23.9%

Other operating expenses

(156,597)

(201,991)

-22.5%

Share of profit of an associate – net of tax

2,542

11,079

-77.1%

Profit from operations

2,065,924

2,763,465

-25.2%

Finance Cost

(13,884)

(11,040)

25.8%

Profit before taxation

2,052,040

2,752,425

-25.4%

Taxation

(639,417)

(811,060)

-21.2%

Profit after taxation

1,412,623

1,941,365

-27.2%

Earnings per share – Rs.

11.38

15.65

-27.3%

 

Copyright Mettis Link News

Posted on: 2019-10-28T17:11:00+05:00

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