Corporate results: Honda Atlas profit up 257%
Atlas Honda reduces expenses and improves its EPS.
Atlas Honda reports an EPS of Rs4.11 in the second quarter (2QFY15). PHOTO: FILE
KARACHI:
Honda Atlas Cars on Tuesday reported a net profit of Rs1.58 billion for nine months (April-December 2014), up by a phenomenal 257% compared to Rs441 million in the same period of last year.
Earnings per share (EPS) of the company remained at Rs11.03 compared to Rs3.09 in the corresponding period of last year. However, according to AKD Research, this robust growth was still below the expected net profit of Rs1.68 billion.
Other highlights of the result were the growth in gross margins from 7% to 12.8% during April to December 2014. Volumes of the company fell 6.1% year-on-year. Additionally, there was a reduction in other expenses including other charges and financial charges.
In the third quarter of fiscal year 2015 (3QFY15) alone, the company posted a net profit of Rs293 million or EPS of Rs2.05, down 50% quarter-on-quarter against net profit of Rs586 million or EPS of Rs4.11 in the second quarter (2QFY15).
Published in The Express Tribune, January 28th, 2015.
Honda Atlas Cars on Tuesday reported a net profit of Rs1.58 billion for nine months (April-December 2014), up by a phenomenal 257% compared to Rs441 million in the same period of last year.
Earnings per share (EPS) of the company remained at Rs11.03 compared to Rs3.09 in the corresponding period of last year. However, according to AKD Research, this robust growth was still below the expected net profit of Rs1.68 billion.
Other highlights of the result were the growth in gross margins from 7% to 12.8% during April to December 2014. Volumes of the company fell 6.1% year-on-year. Additionally, there was a reduction in other expenses including other charges and financial charges.
In the third quarter of fiscal year 2015 (3QFY15) alone, the company posted a net profit of Rs293 million or EPS of Rs2.05, down 50% quarter-on-quarter against net profit of Rs586 million or EPS of Rs4.11 in the second quarter (2QFY15).
Published in The Express Tribune, January 28th, 2015.