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

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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%

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