Atlast Honda Limited — the largest motorcycle manufacturer in Pakistan — has posted a net profit of Rs. 1.1 billion for the quarter which ended on 30th June, 2017.
The company sent a notice to the Pakistan Stock Exchange (PSX) in which this information was disclosed.
In comparison to the corresponding period of previous year, Atlas Honda has seen a 29% increase in their profits from Rs. 850 million to Rs. 1.1 billion.
Atlas’ earnings per share have registered a growth – it was Rs 10.64 in April-June 2017 when compared to Rs 8.22 earnings per share in the same quarter of previous year.
In terms of its stock market performance, Atlas Honda’s share price grew by 1% to Rs. 590 at the PSX as trading started for the week.
Unlike passenger cars, the motorcycle industry has shown consistent growth over the last few years. Annual production of motorcycles has remained stable and has now crossed 2 million units. Demand for motorbikes still continues to grow in the domestic market.
The company is currently expanding its operations and planning to expand its product portfolio with an investment of $150 million. This amount is expected to be invested in the next five years.