Atlas Honda's half year profits tumble by 13.4%

MG News | October 31, 2018 at 03:25 PM GMT+05:00

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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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