KARACHI: Honda Atlas Cars (Pakistan) Limited on Tuesday announced a sharp decline of over 29 per cent recorded in its net profit for the quarter ended June 30, 2022.
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The company declared Rs658.2 million profit after tax for the quarter ended June 30, 2022 as compared with Rs928.22 million in the same quarter a year ago.
Honda Atlas Cars (Pakistan) Limited announced earnings per share (EPS) at Rs4.61 for the period under review as compared with EPS of Rs6.5 announced for the same quarter a year ago.
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The board of directors of the company in their meetings held on July 26, 2022 approved the results and recommended no cash dividend, bonus shares or right shares, according to financial results submitted to the Pakistan Stock Exchange (PSX).
According to the financial results, the company declared sales of Rs30.24 billion for the quarter ended June 30, 2022 as compared with Rs21.764 billion in the same quarter a year ago.
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The cost of sales increased to Rs28.33 billion for the quarter ended June 30, 2022 as compared with Rs20.17 billion in the same quarter a year ago.
This resulted in gross profit of the company at Rs1.92 billion as compared with same quarter previous year at Rs1.59 billion.
The overall expenses of the company rose to Rs821 million for the quarter ended June 30, 2022 as compared with Rs231.25 million in the same quarter of the last year.
