Atlas Honda Q1 earnings surge 117pc

KARACHI: Atlas Honda on Wednesday reported a 117 percent surge in its first quarter earnings, attributing this to an increase in sales.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs3.477 billion for the quarter that ended June 30, up from Rs1.602 billion during the same period last year.

The company skipped any payout for this period. Earnings per share came in at Rs28.02, compared with earnings per share of Rs12.91 during the same period a year ago.

The company said its sales for the quarter rose to Rs47.42 billion, compared with Rs35.621 billion the same quarter a year earlier. The cost of sales remained at Rs42.814 billion from Rs33.733 billion.Other income increased to Rs2.429 billion from Rs2.026 million which improved the margins.