Honda Posts Massive Rs. 2.5 Billion Profit in FY 2022
Honda Atlas Cars Limited (HCAR) posted a profit after tax of Rs. 2.50 billion in the full year ended March 31, 2022 (FY2022), compared to a profit of Rs. 1.79 billion in the same period of last year, according to the notification filed to the Pakistan Stock Exchange (PSX).
This is an increase of 40 percent as compared to the previous year.
Along with the result, Honda Atlas Cars also announced a final cash dividend of Rs. 7 per share.
The sales of the company during the year grew by 60 percent to Rs. 108.04 billion from Rs. 67.36 billion was recorded in the corresponding period last year. The increase in net sales was accredited to high demand for City’s new variant and an increase in prices during the year.
The revenues surged due to the increase in the sales volume of units during the year.
The company reported a gross profit of Rs. 5.57 billion up by 48 percent as compared to Rs. 3.77 billion that was posted in the same period last year.