Atlas Honda's half year profits tumble by 13.4%
By MG News | October 31, 2018 at 03:25 PM GMT+05:00
October 31, 2018 (MLN): Atlas Honda Limited (ATLH) consolidated profits for the half year ended September 30, 2018 have dropped by a margin of 13.4% i.e. Rs. 300 million, while its EPS was recorded at Rs.18.77 per share for the said period.
The company’s cost of sales jumped by 13.82%, bringing down the gross profits by 7.43% during the period.
Similarly, the adequate growth in Sales and marketing expenses by 4.06%, along with decline in Share of net profit of an Associate by 63% dragged down the company’s profit margins.
| Profit and loss account for the half year ended September 30th 2018 (Rupees’000) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Sales | 41,155,604 | 36,917,393 | 11.48% |
| Cost of sales | -37,391,127 | -32,850,551 | 13.82% |
| Gross profit | 3,764,477 | 4,066,842 | -7.43% |
| Sales and marketing expenses | -927,429 | -891,261 | 4.06% |
| Administrative expenses | -317,819 | -320,582 | -0.86% |
| Other income | 435,148 | 405,174 | 7.40% |
| Other operating expenses | -201,991 | -237,125 | -14.82% |
| Share of net profit of an Associate | 11,079 | 29,977 | -63.04% |
| Operating profit | 2,763,465 | 3,053,025 | -9.48% |
| Finance costs | -11,040 | -11,058 | -0.16% |
| Profit before taxation | 2,752,425 | 3,041,967 | -9.52% |
| Taxation | -811,060 | -800,121 | 1.37% |
| Profit for the period | 1,941,365 | 2,241,846 | -13.40% |
| Earnings per share- basic and diluted | 18.77 | 21.68 | -13.42% |
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