Honda Atlas Cars (Pakistan) Ltd. Reports Financial Results for December 2023

Karachi, Honda Atlas Cars (Pakistan) Ltd. announced its financial results for the period ending December 31, 2023, in a meeting held on January 24, 2024, at the Atlas Group’s Jackmanmu House in Clifton, Karachi. The company declared no cash dividends, bonus shares, or right shares during this period.

The sales figures for the three-month period ended December 31, 2023, stood at 12,426,171 (Rupees in thousands), a notable decrease from 22,948,616 in the same period of the previous year. For the nine-month period ended on the same date, sales amounted to 30,153,091, compared to 72,743,172 in the previous year.

Cost of sales for the three-month period was 11,400,180 (Rupees in thousands), leading to a gross profit of 1,025,991. This gross profit is lower compared to the same period last year, which was 1,789,977. The nine-month period ended December 31, 2023, saw a gross profit of 2,404,407, a decrease from 4,378,773 in the previous year.

Distribution and marketing costs for the three-month period were 182,641, while administrative expenses were reported at 398,380. The company also reported other income of 288,192 and other expenses of 62,509 for the same period. Finance costs for the three months amounted to 443,266.

The company’s profit before taxation for the three-month period was 227,387, a significant decrease from the 1,180,161 reported in the same period of the previous year. The net profit for the period was 143,251, down from 810,825 in the previous period.

Earnings per share for the three-month period were reported at 1.00 Rupees, compared to 5.68 Rupees in the same period the previous year. For the nine-month period, earnings per share were 6.75 Rupees, a decrease from 7.59 Rupees in the previous year.

The company’s quarterly report for the period ended December 31, 2023, will be transmitted separately through PACRA within the specified time.