Atlas Honda Limited (PSX: ATLH) has announced a profit of Rs. 1.602 billion for the quarter ending June 30, 2023, representing a 6.6 percent improvement over the previous year’s profit of Rs. 1.502 billion.
Atlas Honda profit of Rs. 1.602 billion
Because of the provision for Super Tax for the current and past years, the profit after tax (PAT) for the three-month period ended at the aforementioned level. This converted into earnings per share (EPS) of Rs. 12.9, compared to Rs. 12.1 in the same time previous year.
The Atlas Honda’s net sales for the three months ended June 30, 2023 were Rs. 35.6 billion, a 5% decrease from the previous year. This is due to decreasing sales volume as a result of import limitations, inflationary pressures, and the general economic slump.
As a result, gross profit fell by 28%, from Rs. 2.6 billion to Rs. 1.9 billion. Lower sales volume, higher material prices, rising energy costs, and the depreciation of the Pakistan rupee resulted in a less-than-comparable increase in selling prices.
Sales and marketing expenses increased by 7.0 percent to Rs. 0.7 billion, owing to promotional activities and an increase in fuel costs. Administrative expenses increased by 9%, owing primarily to the consequences of ongoing inflation.
Other income, net of other operational expenses and financial charges, provided Rs. 1.8 billion to the bottom line, which was 3.1 times greater than in the previous period. This is due to more efficient treasury operations and a rise in policy rates.
The aforementioned elements helped the company achieve a three-month profit before tax of Rs. 2.8 billion, an increase of 18%. The company’s scrip at the time of filing was Rs. 277, up Rs. 0.01 with a turnover of 3,800 shares on Thursday.
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