Honda Atlas profits decrease by 49% during the quarter ending on June 30th 2018
MG News | July 30, 2018 at 10:49 AM GMT+05:00
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 | 21,058,129 | 13.3% |
| 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% |
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