Wednesday, February 21, 2024

Atlas Honda Profit Increase 65% to Rs. 6.08 Billion in 9 Months

Atlas Honda Limited (ATLH), a company listed on the Pakistan Stock Exchange (PSX), recently disclosed its financial performance for the nine months ending December 31, 2023. The company reported a substantial growth in profit after tax, amounting to Rs6.08 billion during this period, compared to Rs3.69 billion in the same duration last year.

The noteworthy increase in profit is attributed to a robust 12.63% growth in the company’s top line, reaching Rs115.42 billion. Although the cost of sales experienced an uptick, the gross profit exhibited a commendable improvement, marking a growth of 21.75%.

Other income witnessed a significant surge, reaching Rs6.24 billion. While sales and marketing expenses rose, there was a decrease in other expenses. The finance costs incurred an increase due to higher interest rates, and the company also contributed a notably larger amount in taxes.

Atlas Honda Limited’s profit before taxation demonstrated a remarkable increase of 72.75% year-on-year. Overall, the financial report indicates that the company has maintained a robust and positive performance during the reviewed period.

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