Honda Atlas Cars posted a net profit of Rs 5.12 billion in the first nine months (Apr-Dec) of 2017, up 27.68% from Rs 4.01 billion in the same period last year, according to a company notice sent to the Pakistan Stock Exchange (PSX).
Earnings per share (EPS) increased to Rs 35.86, up by 27.52% from an EPS of Rs 28.12 in the period under review.
The Honda Atlas Cars has seen significant surge in sales over the last year as new Civic variant has gone on to post record sales numbers.
HCAR reported an increase of 57.55% in sales, as the cost of sales also saw an increase of 63.07% in this period, driven by the sales of 35,823 units, up by 29% YOY, as compared to the last year owing to the success of Civic, City and BR-V models during Q3MY18 and an increase in average selling prices as well.
Moreover, gross profit for the reported period shot up by 26.61%. The company also reported an increase of 112% in other operating incomes.
Administrative expenses saw an increase of 24.45% as compared to last year. The financial costs for the period declined by more than 50% as well.
In third quarter, HCAR’s net sales grew 39% YoY on amount of strong volumetric growth which was up by 43% to 12,175 units. The company also sold 3,088 BRV units in the outgoing quarter.
The result was in line with expectations of the market. At the time of filing this report, HCAR at the PSX was trading at Rs 534, down by 4.47% with a turnover of 133,400 shares.
No cash dividend, bonus share or right shares were announced by the company.