PhotoNews
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    PTI Jalsa from the Minar-e-Pakistan Lahore
    Videos

    Watch Live | PTI Imran Khan’s speech at Minar-e-Pakistan Lahore

    March 26, 2023 1 Min Read
    Shark Attack Video
    Videos

    Viral Video: A female diver survives shark attack

    March 20, 2023 2 Min Read
    The Daily Show, Bilawal Bhutto Zardari's full interview
    Videos

    Bilawal Bhutto Zardari full Interview on ‘The Daily Show”

    March 15, 2023 1 Min Read
  • Sports
  • Offbeat
  • Blog
  • Contact
Reading: Corporate result: Honda Atlas Cars reports 48% surge in profit
PhotoNewsPhotoNews
Aa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
PhotoNews > Business > Corporate result: Honda Atlas Cars reports 48% surge in profit
Business

Corporate result: Honda Atlas Cars reports 48% surge in profit

Last updated: 2015/11/21 at 1:29 PM
3 Min Read
Share
SHARE
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.

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.

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.

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.

admin November 21, 2015
Share this Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

United States Pakistan Relationship, Pakistan's General Elections

US-Pakistan engagement increase ahead of General Elections

Political Turmoil and Economic Crisis,

Political Turmoil and Economic Crisis: Can Pakistan’s Leaders Save the Nation?

Pakistani Elon Khan

Pakistani ‘Elon Musk’ trends on social media

Saudi Arabia and Yemen war, Yemen war News

‘Stuck in a swamp’: Saudi Arabia seeks exit from Yemen war

President Dr. Arif Alvi's Letter to Shehbaz Sharif

PM Shehbaz calls President Alvi’s letter for polls “PTI’s press release”

WWE Sara Lee's Death, WWE Sara Lee Pictures

WWE Sara Lee’s cause of death revealed

Post Archives

More Popular from Photonews

Pepper Sprays Review
Blog

Pepper Sprays: A Review

13 Min Read
Karachi's Crime Rate
Blog

Guns: Why we need them more then ever before

5 Min Read
Pakistan's Nuclear Weapons, Pakistan's Nuclear, IMF Conditions
BusinessPakistan

IMF rejects Ishaq Dar’s claims link loan program with Pakistan’s nuclear weapons

2 Min Read
Videos

Watch KAROL G, Shakira’s new song TQG’s official video

After a month of BZRP Music Sessions #53 on YouTube, Shakira returns with another post-breakup banger,…

March 1, 2023
Entertainment

Victoria’s Secret announces iconic fashion show after 4 years, but with a new version

The Victoria's Secret Fashion Show will return after a four-year absence, and the 2023 Victoria's Secret…

March 7, 2023
Videos

Bilawal Bhutto Zardari full Interview on ‘The Daily Show”

Foreign Minister Bilawal Bhutto-Zardari stated that Pakistan is facing a “perfect storm” due to the country’s…

March 15, 2023
Sports

Pic of Ja Morant spending $50K at a strip club and flashing gun

Ja Morant lands in trouble following broadcasts of his infamous gun-flashing Livestream, which landed him in…

March 12, 2023
PhotoNews

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2023 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?