KARACHI: Honda Atlas Vehicles (Pakistan) Ltd, one of many high auto producers within the nation, on Friday reported a 90 % drop in its full-year web revenue, owing to a rise in bills.
In a press release to the Pakistan Inventory Trade, the corporate reported a web revenue of Rs260.141 million for the 12 months that ended March 31, down from Rs2.509 billion the earlier 12 months. The corporate skipped any payout for the mentioned interval. Earnings per share got here in at Rs1.82/share, in contrast with Rs17.58/share final 12 months.
The corporate mentioned its income for the 12 months dropped to Rs95.087 billion, in contrast with Rs108.047 billion a 12 months earlier. Its value of gross sales remained at 87.926 billion from Rs102.515 billion throughout the identical interval final 12 months.
Honda mentioned its different revenue for the interval rose to Rs2.321 billion, in contrast with Rs2.004 billion the earlier 12 months. Different bills rose to Rs4.929 billion from Rs984.045 million, which affected the revenue margins. Brokerage Arif Habib Ltd mentioned the numerous decline in revenue was attributed to decrease volumetric gross sales and better finance prices, which have been recorded up by 6.5x on a year-on-year foundation.
