Honda Atlas profits decrease by 49% during the quarter ending on June 30th 2018

In the Board of Directors meeting, held on July 28th 2018, Honda Atlas Cars (Pakistan) Limited (HCAR) finalized its financial statement for the quarter ending on June 30th 2018.

According to the report, Honda’s YoY Sales increased by 13.3% as compared to the quarter ending on 30th June 2017, while the Gross Profit for the period decreased by 28.3%

The company’s Administrative Expenses reduced largely, (by 135.7%) but so did its other operating income (by 277%). 

Finance Cost increased by 28.7%, while profit from other operations fell by 35.3%

Honda Atlas Car’s had a decline in profit after taxation of 49.6% during the quarter.

 Profit and Loss Account – For the Quarter Ended June 30th 2018 (Rs'000)
  June 30th, 2018  June 30th, 2017 % Change
Sales                       23,854,280                          21,058,12913.3%
Cost of Sales                  (21,710,566)                        (18,067,865)20.2%
Gross profit                       2,143,714                            2,990,264-28.3%
Distribution and Marketing cost                        (190,871)                              (148,792)40.1%
Administrative Expenses                        (166,492)                              (136,287)-135.7%
Other operating income                           449,168                                466,303-277.1%
Other operating expenses                        (347,099)                              (253,606)36.9%
                         (255,294)                                (72,382)252.7%
Profit from operations                       1,888,420                            2,917,882-35.3%
Finance cost                             (4,399)                                  (3,418)28.7%
Profit before taxation                       1,884,021                            2,914,464-35.4%
Taxation                        (833,551)                              (828,193)0.6%
Profit after taxation                       1,050,470                            2,086,271-49.6%

 

Posted on: 2018-07-30T10:49:00+05:00

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