July 26, 2023 (MLN): Atlas Honda Limited (PSX: ATLH) on Wednesday revealed its financial results for the quarter that ended on June 30, 2023, as per which, the company posted a profit worth Rs1.6 billion [EPS: Rs12.91] during the quarter against the profit of Rs1.5bn [EPS: Rs12.11] in the corresponding period.
According to the financial report released today, the topline of the company inched down by 5.5% YoY to Rs35.62bn in 1QMY24 as compared to Rs131.93bn in the same period of the last year.
On the expense side, the company witnessed a meager growth of 7.4% YoY in sales and marketing expenses which stood at around Rs690 million. Meanwhile, the administrative expenses increased by 9.5% YoY in 1QMY24.
Meanwhile, other operating expenses surged by 14.5% YoY and stood at Rs206.5mn for the year in comparison to just Rs180.32mn last year.
The company paid Rs1.16bn in terms of tax expenses during the year, which was 37.3% YoY higher than the taxes paid last year.
| Profit and Loss Account for the quarter ended June 30, 2023 (‘000 Rupees) | |||
|---|---|---|---|
| Jun-23 | Jun-22 | % Change | |
| Sales | 35,621,093 | 37,685,080 | -5.5% |
| Cost of Sales | (33,743,047) | (35,061,856) | -3.8% |
| Gross Profit | 1,878,046 | 2,623,224 | -28.4% |
| Sales and Marketing Expenses | (689,993) | (642,260) | 7.4% |
| Administrative expenses | (231,390) | (211,400) | 9.5% |
| Other income | 2,026,892 | 765,811 | 164.7% |
| Other operating expenses | (206,502) | (180,326) | 14.5% |
| Share of profit of an associate | 2,748 | 3,537 | -22.3% |
| Profit from operations | 2,779,801 | 2,358,586 | 17.9% |
| Finace Cost | (17,079) | (10,899) | 56.7% |
| Profit before taxation | 2,762,722 | 2,347,687 | 17.7% |
| Taxation | (1,160,343) | (845,167) | 37.3% |
| Profit after taxation | 1,602,379 | 1,502,520 | 6.6% |
| Earnings per share -basic and diluted (Rs) | 12.91 | 12.11 | 6.6% |
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Posted on:2023-07-26T14:19:40+05:00
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