Corporate result: Honda Atlas Cars reports 48% surge in profit
Amounts to Rs1.81b during Apr-Sept period, EPS stands at Rs12.68
Amounts to Rs1.81b during Apr-Sept period, EPS stands at Rs12.68. PHOTO: FILE
KARACHI:
Honda Atlas Cars has posted a net profit of Rs1.81 billion for the half-year (Apr-Sep) period, up by a significant 48% compared to Rs1.22 billion in the same period last year, according to a company notice sent to Karachi Stock Exchange (KSE) on Friday.
Earnings per share (EPS) jumped to Rs12.68 from an EPS of Rs8.52 in the period under review.
Atlas Honda to increase motorcycle production
The company earned Rs726 million in the second quarter (Jul-Sep) of 2015, up 24% from Rs586 million in the same period last year. EPS in the second quarter jumped to Rs5.08 from an EPS of Rs4.11 in the period under review.
Honda operates through two joint ventures in Pakistan’s automobile industry, both with the Atlas Group, a financial and industrial conglomerate in Pakistan. Honda owns stake in Honda Atlas Cars, a sedan assembler, and in Atlas Honda, the largest motorcycle producer in Pakistan with over 50% market share.
The result was below market consensus estimates, Topline Securities reported. Its share opened at Rs269.72, losing Rs13.20 in intra-day trade to end at Rs256.52 on Friday.
Altas Honda earns Rs1.34b, up 22%
Revenue of the company grew by 19% year-on-year (YoY) to Rs9.7 billion in the second quarter of 2015. The company sold 6,184 units in the second quarter compared to 4,887 units in the same period last year.
Gross profit improved to Rs1.3 billion (up 15% YoY) in the second quarter of 2015 while gross margins squeezed by 55 basis points (bps) to 13.7% in the second quarter of 2015.
“We attribute this decline to the likely change in product mix between its variants Honda Civic and Honda City,” the report said.
Honda Atlas announces Rs1.08 billion profit
Gross margins declined despite a favourable exchange rate movement as the dollar and Pak rupee appreciate against Japanese yen by 16.6% and 12.4% YoY, respectively.
Other income grew by 18% YoY in the second quarter of 2015, as the company earned interest on advances received from customers owing to strong car demand.
On a quarter-on-quarter (QoQ) basis, revenue declined by 15% YoY to Rs9.7 billion in the second quarter of 2015 due to a 14% QoQ volumetric decline.
Published in The Express Tribune, November 21th, 2015.
Honda Atlas Cars has posted a net profit of Rs1.81 billion for the half-year (Apr-Sep) period, up by a significant 48% compared to Rs1.22 billion in the same period last year, according to a company notice sent to Karachi Stock Exchange (KSE) on Friday.
Earnings per share (EPS) jumped to Rs12.68 from an EPS of Rs8.52 in the period under review.
Atlas Honda to increase motorcycle production
The company earned Rs726 million in the second quarter (Jul-Sep) of 2015, up 24% from Rs586 million in the same period last year. EPS in the second quarter jumped to Rs5.08 from an EPS of Rs4.11 in the period under review.
Honda operates through two joint ventures in Pakistan’s automobile industry, both with the Atlas Group, a financial and industrial conglomerate in Pakistan. Honda owns stake in Honda Atlas Cars, a sedan assembler, and in Atlas Honda, the largest motorcycle producer in Pakistan with over 50% market share.
The result was below market consensus estimates, Topline Securities reported. Its share opened at Rs269.72, losing Rs13.20 in intra-day trade to end at Rs256.52 on Friday.
Altas Honda earns Rs1.34b, up 22%
Revenue of the company grew by 19% year-on-year (YoY) to Rs9.7 billion in the second quarter of 2015. The company sold 6,184 units in the second quarter compared to 4,887 units in the same period last year.
Gross profit improved to Rs1.3 billion (up 15% YoY) in the second quarter of 2015 while gross margins squeezed by 55 basis points (bps) to 13.7% in the second quarter of 2015.
“We attribute this decline to the likely change in product mix between its variants Honda Civic and Honda City,” the report said.
Honda Atlas announces Rs1.08 billion profit
Gross margins declined despite a favourable exchange rate movement as the dollar and Pak rupee appreciate against Japanese yen by 16.6% and 12.4% YoY, respectively.
Other income grew by 18% YoY in the second quarter of 2015, as the company earned interest on advances received from customers owing to strong car demand.
On a quarter-on-quarter (QoQ) basis, revenue declined by 15% YoY to Rs9.7 billion in the second quarter of 2015 due to a 14% QoQ volumetric decline.
Published in The Express Tribune, November 21th, 2015.