Atlas Honda Limited (PSX: ATLH) has announced a Rs. 1.95 billion profit for the quarter that ended September 30, 2023, depicting a 152 percent increase from Rs. 777 million in the same period last year.
This translated into a profit of Rs. 3.5 billion for the first 6 months of calendar year 2023, up 56.1 percent from Rs. 2.28 billion in SPLY.
Along with the result, the company announced an interim cash dividend of Rs. 17 per share for 1HCY23.
During the three-month period ended September 30, 2023, the company achieved net sales of Rs. 38.5 billion, a jump of 30 percent compared to Rs. 29.5 billion in SPLY. In H1 2023, sales increased by 10 percent to Rs. 74 billion as the bike maker had increased the prices multiple times.
Resultantly, gross profit increased to Rs. 2.4 billion in 2QFY24 and Rs. 4.3 billion for the first 6 months of 2023.
Administrative expenses rose by 27 percent to Rs. 245.6 million in July-September. In 1HCY23, the same metric clocked in at Rs. 477 million.
Other income, net of other operating expenses and financial charges, contributed an encouraging Rs. 2.2 billion to the bottom line during 2QFY24. Consequently, the other income jumped by a staggering 132 percent to Rs. 4.2 billion in 1HCY23.
Earnings per Share (EPS) of the company came in at Rs. 15.77 in 2QFY24 and Rs. 28.68 in 1HCY23.
At the time of filing, the company’s scrip at the bourse was Rs. 300, up by 1.85 percent or Rs. 5.45 with a turnover of 15,100 shares on Tuesday.
