An impressive net Honda Atlas profit has been seen for the September ending quarter of 2016 by the company. Rs 5.1 billion are 107% up compared to last year’s Rs 276 million according to the Pakistan Stock Exchange (PSX).
Rs 10.32 were the improved earnings per share in comparison to last time’s Rs 5.08 and the targets are met. Honda Atlas Cars stock closed down at Rs 578.99 which is 1% down on Tuesday. The PSX KSE 100-share closed at 42,292 (down 233 points/0.55%).
Other profits
The company revenues on the other hand showed 60% YoY increase with Rs 1.5 billion from July-Sept. The sales volume has grown 30% to be at 8,059 units compared to last year. The change is seen between Honda Civic and Honda City. The higher priced brand has captured more sales share in the market after the 10th generation model launch. The gross profit is 90% YoY (Rs 2.5 billion) and gross margin is 16.2% (up 2.5% points). This is mostly due to Civic’s higher contribution in sales and stable Rupee outlook against foreign dollar exposure.
The operating income is at Rs 226 million for 2016’s 3rd quarter compared to Rs 57 million in the same quarter last year. This is also due to high bookings of the new Civic. The effective tax was 36% against last time’s 33% though. Thus, the net revenues grow by 47% QoQ due to sales volume increase. The gross profits have gains of 55% QoQ as margins come to 80 basis points.
Lastly, the net sales grew 24% YoY from April-September to be at Rs 26 billion. The volume stood at 15,243 units to grow 14% in comparison to last year’s 13,401 units.
