LAHORE – Honda Atlas Cars Limited (HCAR) witnessed a whopping 77 percent increase in its sale during first half (January-June) of calendar year 2021.
The leading automobile company on Wednesday announced its financial results for the period under review.
According to result summary received by the Pakistan Stock Exchange from the company, during the period under review, sales of the company has increased by a massive 77% Year on Year basis (YoY) to Rs.47.74 billion from Rs.26.94 billion in same period last year on account of drastically improved volumetric coupled with upward revision of new City variant.
On the other hands, company’s cost of sales have posted growth of 74%YoY to Rs.44.36 billion in 1HCY21 as compared to Rs.25.50 billion in 1HCY20 mainly due to currency depreciation and higher input costs.
Since the company posted a strong increase in sales compare to its cost of sales, the company posted an exceptional growth of 134%YoY in its gross profit to Rs.3.38 billion in 1HCY21 as compared to Rs.1.145 billion recorded in corresponding period of last year.
The company recorded 442% growth in other income while company’s financial cost plunged by a massive 63% due to which company reported profit after tax of Rs.1.87 billion in 1HCY21 compared to Rs. 146 million in same period last year.
