Islamabad, JULY24: Honda Atlas Cars (Pakistan) Limited (PSX: HCAR) released its financial results for the first quarter of FY25 today. The company reported a profit after tax of Rs. 202 million, a 40% YoY increase over the same time the previous year when it reported a profit of Rs. 144.9 million.
In a quick evaluation, Topline Securities stated that the outcome fell short of expectations because of low gross margins.During the time under examination, the automaker did not declare any dividend payments to its stockholders.
Sales for the first quarter of FY25 increased 324 percent year over year to Rs. 15.9 billion from Rs. 3.7 billion in SPLY. The gross margin reached 6.3 percent for the period under evaluation. In 1QMY25, other income dropped by 62% YoY to total Rs. 343 billion.
The amount spent on other expenses in 1QMY25 was Rs. 33 million, a small YoY increase. During the review period, the company paid 180.7 million in taxes, whereas SPLY was paid at the rate of 122.7 million. During the same period last year, HCAR’s profits per share (EPS) was Rs. 1.02, but this year it came in at Rs. 1.42. HCAR’s shares on the market were trading at Rs. 281.7 at the time of reporting, down 1.87 percent or Rs. 5.36 with 802,401 shares on Wednesday.
