Honda Atlas Cars Pakistan Ltd. profits increase 27.51% to Rs. 5.120 billion

MG News | January 23, 2018 at 01:19 PM GMT+05:00

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Honda Atlas Cars Pakistan Ltd. (HCAR) posted nine month results for the year 2017, just shy of industry expectations. The Honda Atlas Cars have seen significant surge in sales over the last year as new Civic variant has gone on to post record sales numbers beating the Toyota’s Corolla model.

HCAR’s Nine Months’ profit after taxation during 2017 clocked in at Rs. 5.12 billion against industry expectations of Rs. 5.2 billion.

The company’s EPS was in line of the expectations as well, clocking in at Rs. 35.86 vs. analyst estimates of Rs. 36.55, declining by 27.52% from same period last year.

HCAR reported an increase of 57.55% Sales, and an increase of 63.07% in cost of sales. Moreover, Gross Profit for the reported period shot up by 26.61%. The company also reported an increase of 112% in other operating incomes.

Finance Costs for the period declined by more than 50% during the period as well.

Comparison of Key Financials
Unconsolidated Profit and Loss Account – April to December 31^st 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Sales	65,746,079	41,729,032	57.55%
Cost of Sales	57,759,240	35,420,666	63.07%
Gross Profit	7,986,839	6,308,366	26.61%
Distribution & Marketing Cost	498,630	332,143	50.13%
Administrative Expenses	446,776	358,998	24.45%
Other operating income	1,414,082	665,601	112.45%
Other operating expenses	826,400	424,969	94.46%
Profit from Operations	7,629,115	5,857,857	30.24%
Finance Cost	9,409	19,094	-50.72%
Profit before Taxation	7,619,706	5,838,763	30.50%
Taxation	2,498,935	1,822,891	37.09%
Profit after Taxation	5,120,771	4,015,872	27.51%
EPS - Basic & diluted	35.86	28.12	27.52%

Company release on Earnings Report can be accessed here.

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