Atlas Honda’s bottom-line earnings decline by 27%
By MG News | October 28, 2019 at 05:11 PM GMT+05:00
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% |
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