Honda Cars declares 82 percent decline in annual profit

KARACHI: Honda Atlas Cars (Pakistan) Limited has posted 82 percent decline in annual profit for the period ended March 31, 2020, said a notification on Tuesday.

The car manufacturing company declared Rs682 million profit after tax for the year ended March 31, 2020 as compared with Rs3.85 billion in the preceding year.

The sales of the company fell by 42 percent to Rs55 billion for the year ended March 31, 2020 as compared with Rs95.13 billion in the preceding year.

The administrative expenses were flat at Rs738.75 million for the year. Operating expenses were also reduced to Rs1.045 billion for the year under review.

The company declared Rs4.77 as earning per share for the year ended March 31, 2020 as against Rs26.97 EPS declared in the preceding year.

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