Pakistan stock exchange received a notice on Tuesday from Honda Atlas Cars Limited Pakistan. The notice declared that the company has realized the net profit of Rs. 1.42 billion which in the similar quarter last year was Rs.1.49 billion with a decline of 5 percent. The notice reported the details of companies quarter ended on Dec 31, 2017.
The details also carried information regarding earning per share of Honda Atlas Pakistan that is Rs.9.92 against Rs.10.45 which was observed for last three month.
Profit for April to December stood at Rs.5.12 billion i.e. 28 percent higher than previous years stats that was, Rs.4.01 billion. And the share price of the company declined to Rs.531.34 from 559.01.
Total sales of the Honda Atlas Pakistan also exhibit very productive results year-on-year. It soared to Rs21.8 billion an increase of 39% due to good prospects of the company and average yearly appreciation in sales volume. The company also had to bear the costs when the price of steel goes up and the depreciation in the rupee value, ultimately it affected its Gross margins.
The company also had to withstand the burgeoning distribution cost that was Rs.157million against Rs.106million last year. While other sources of income have fetched Rs.460 million.
At the end of third quarter, the effective tax rate was 33 percent against 30% in previous year’s same quarter.
