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

Add Mettisglobal as a Trusted Source on Google

0:00

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

Related News

easypaisa, KTrade join hands to enable instant PSX account opening

J.K. Spinning Mills injects Rs2.3bn into manufacturing modernization

BOP secures green light for Rs30bn Punjab govt capital injection

Name	Price/Vol	%Chg/NChg
KSE100	171,943.60 158.72M	-0.40% -698.56
ALLSHR	104,321.41 475.62M	-0.32% -337.01
KSE30	51,172.13 54.01M	-0.47% -242.51
KMI30	244,613.98 54.36M	-0.61% -1493.10
KMIALLSHR	67,557.66 293.75M	-0.40% -268.80
BKTi	47,953.70 27.40M	-0.37% -178.53
OGTi	34,968.31 4.83M	-0.32% -113.75

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,210.00	79,955.00 78,555.00	625.00 0.80%
BRENT CRUDE	100.64	100.95 98.80	2.72 2.78%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	2.10 1.64%
ROTTERDAM COAL MONTHLY	140.00	0.00 0.00	1.25 0.90%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	95.23	95.57 93.76	2.20 2.36%
SUGAR #11 WORLD	18.37	18.45 18.08	0.27 1.49%