Honda Cars declares 40% surge in annual profit

Honda Cars declares 40% surge in annual profit

KARACHI: Honda Atlas Cars (Pakistan) Limited announced a sharp growth in profit by 40 per cent to Rs2.51 billion for the year ended March 31, 2022.

According to financial results submitted to Pakistan Stock Exchange (PSX) on Thursday, the annual profit after tax of the company was Rs1.79 billion in the preceding year.

The sales of the company increased to Rs108 billion for the year ended March 31, 2022 as compared with Rs67.36 billion in the preceding year. Meanwhile, cost of sales recorded at Rs102.47 billion for the year under review as compared with Rs63.58 billion in the preceding year.

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The gross profit of Honda Atlas Cars (Pakistan) Limited also recorded a sharp increase to Rs5.58 billion for the year ended March 31, 2022 as compared with 3.7 billion in the preceding year.

A significant increase has been seen in administrative expenses for the year under review. The administrative expenses of the company increased to Rs1.06 billion for the year ended March 31, 2022 as compared with Rs824 million in the last year.

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The company declared a final cash dividend Rs7 per share (70 per cent) was recommended for the year ended March 31, 2022 as compared with Rs4.52 per share (45.2 per cent) declared last year.

Honda Cars has not declared any bonus or right shares for the year ended March 31, 2022.

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