July 30, 2019 (MLN): The Board of Directors of Atlas Honda Limited in their meeting held on Tuesday has announced Profit after Tax of Rs. 842 million (EPS: Rs. 6.79) for the quarter ended June 30, 2019, depicting a decline of 29.5%.
The earnings were impacted by higher increase in cost of sales than sales revenue, which pulled down gross profits by 19%.
Moreover, the finance cost surged by 229% due to higher interests rates on borrowings.
Financial results for the quarter ended June 30, 2019 (Rs’000) | |||
---|---|---|---|
2019 |
2018 |
% Change |
|
Sales |
22,832,003 |
22,128,662 |
3.18% |
Cost of Sales |
-21,116,323 |
-20,006,170 |
5.55% |
Gross Profit |
1,715,680 |
2,122,492 |
-19.17% |
Sales and Marketing Expenses |
-524,177 |
-481,541 |
8.85% |
Administrative Expenses |
-158,305 |
-158,033 |
0.17% |
Other Operating Income |
263,124 |
259,030 |
1.58% |
Other Operating Expenses |
-90,214 |
-114027 |
-20.88% |
Profit from Operations |
1,206,108 |
1,627,921 |
-25.91% |
Finance Cost |
-5,301 |
-1,608 |
229.66% |
Share of Profit of an associate – net of tax |
2,105 |
10,000 |
-78.95% |
Profit before taxation |
1,202,912 |
1,636,313 |
-26.49% |
Taxation |
-360,785 |
-441,805 |
-18.34% |
Profit after taxation |
842,127 |
1,194,508 |
-29.50% |
EPS – Rs |
6.79 |
9.63 |
-29.49% |
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