Honda Cars Q2 profit down 41pc

Wednesday, Jul 27, 2022

Honda Atlas Cars (Pakistan) Ltd an nounced a decline of 41 percent in profits for the quarter ended June 30, because of an increase in the cost of sales. In a statement to the PSX, the company reported a net profit of Rs658.202 million during the first quarter ended June 30 against Rs928.224 million during the same period last year. The company did not announce any dividend for this period. EPS came in at Rs4.61, compared with EPS of Rs6.50 during the same period last year. The company said its sales for the quar ter increased to Rs30.245 billion, com pared with Rs21.764 billion a year earlier. However, the cost of sales was recorded at Rs28.330 billion from Rs20.169 billion last year, which reduced the profits. Gross profit during the quarter was recorded at Rs1.915 billion, against Rs1.594 billion during the same period last year. However, other costs increased to Rs821.185 million against Rs231.249 mil lion which further decreased the profit margins.