Atlas Honda posts 86pc surge in half-year earnings

KARACHI: Atlas Honda on Wednesday reported an 86 per cent surge in its half-year earnings, due to an increase in sales and other income.

In a statement to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs6.62 billion for the six months that ended September 30, up from Rs3.559 billion during the same period last year. The company also announced an interim cash dividend for the half year at Rs32 per share. Earnings per share came in at Rs53.36, compared with earnings per share of Rs28.68 a year ago.

The company said its sales for the half-year rose to Rs92.944 billion, compared with Rs74.184 billion a year earlier. The cost of sales also increased to Rs84.684 billion from Rs69.839 billion.

The company said its other income also increased to Rs5.22 billion from Rs4.26 billion, which also supported the profit margins. For the quarter that ended September 30, the company posted a net profit of Rs3.143 billion from Rs1.956 billion during the same quarter last year. EPS for this period recorded at Rs25.33, up from Rs15.77.