Atlas Honda Limited posted a profit of Rs 3.41 billion in the nine months period ending December 31, 2017, up 25.83% compared to Rs 2.71 billion in the same period last year, state a company notice sent to the Pakistan Stock Exchange (PSX) on Wednesday.
The company’s earnings per share (EPS) increased to Rs 33.00 from an EPS of Rs 26.22 in the period under review.
Honda Atlas reported a significant increase in the total sales which jumped by 20.48% to Rs. 56.511 billion as compared to Rs 46.90 billion in the same period last year.
The company has seen sales surge in two wheelers segment, gaining a significant share of the total market.
ATLH releases on the exchange show a decent performance during the last nine months. Gross Profit for the year increased by more than 25% to reach Rs. 6.182 billion against Rs. 4.928 billion during same period last year.
The company also reported a proportionate 15.7% increase in the Administration, 15.52% increase in Sales & Marketing, and 18.79% increase in Operating Expenses during the period under view. Other income took a fall of more than 16%, to reach Rs 505 million.
The company also announced 3rd quarter 2018 results with a profit of Rs 1.17 billion up by 17% as compared to last year’s profit of Rs 1 billion in the same period.
Overall sales clocked in at Rs 19.59 billion, up by 2.03% which is higher than the Rs 19.2 billion reported for the earlier quarter, primarily driven by nearly flat sales volumes growth.
ATLH sales volumes have shown marginal increase of 3% QoQ, clocking in at 276,709 units in 3QMY18 vs. 268,309 units in 2QMY18.
Earnings per share (EPS) for the quarter ended increased to Rs 11.32 from an EPS of Rs 9.68 in the period under review.
As per an additional release following the financial results, the board of directors of the company has approved a capital expenditure of Rs. 2.2 billion. The details of said Capital expenditure were not revealed by the company.