Honda Atlas Cars posts Rs446 million profit in Q3 of 2021

KARACHI: Honda Atlas Cars announced a net profit of Rs446 million translating into earning per share (EPS) of Rs3.12 for the quarter ended December 31, 2021.

The company’s profit was recorded at Rs939 million (EPS: Rs6.58) in the previous quarter of the year 2021.

The decline in the earnings during the quarter can be attributed to currency volatility and higher import of parts, leading to a surge of 19 per cent in cost of goods sold.

The revenues of the company improved by 73 per cent to Rs77 billion during nine months ended December 31, 2021, compared with Rs45 billion in the corresponding period.

The income of the company rose owing to the jump in prices along with the higher sold units during the quarter.

Other income surged 2.4 times reaching Rs1.4 billion in nine months.