Atlas Honda Limited Reports Strong Financial Growth in Recent Quarter

Karachi: The Board of Directors of Atlas Honda Limited approved the company’s financial statements for the quarter ending June 30, 2024, during their meeting on July 30, 2024, in Karachi. The results show significant growth in profits compared to the same period last year.

The financial outcomes indicate a substantial increase in net sales, totaling PKR 47,420.81 million, up from PKR 35,621.09 million in 2023. The cost of sales also rose to PKR 42,814.70 million from PKR 33,733.08 million. This resulted in a gross profit of PKR 4,606.11 million, a considerable improvement from PKR 1,888.02 million in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), Atlas Honda’s operational efficiency is reflected in the increased profits from operations, which reached PKR 5,634.81 million, up from PKR 2,777.05 million. The company’s other income grew to PKR 2,429.67 million, contributing positively to the bottom line.

However, the company faced higher expenses across the board. Sales and marketing expenses increased to PKR 896.63 million, administrative expenses climbed to PKR 239.99 million, and other operating expenses rose to PKR 264.34 million. Despite these increases, the profit before taxation stood strong at PKR 5,617.73 million, a significant rise from PKR 2,762.72 million in 2023.

The profit after taxation for the quarter was PKR 3,477.37 million, compared to PKR 1,602.38 million last year, marking an improvement in net profitability. Earnings per share also increased to PKR 28.02 from PKR 12.91.

Atlas Honda has not declared any interim dividend for this quarter. The quarterly report for the period ended June 30, 2024, will be made available through PUCARS within the specified time frame.