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Honda Atlas Cars fiscal Q3 profit climbs 96.8% YOY

Honda Atlas Cars (Pakistan) Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 2.37 Pakistani rupees per share, compared with the S&P Capital IQ consensus estimate of 2.69 rupees per share.

EPS climbed 96.5% year over year from 1.21 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 338.5 million rupees, a gain of 96.8% from 172.0 million rupees in the prior-year period.

The normalized profit margin increased to 5.7% from 2.8% in the year-earlier period.

Total revenue fell 5.7% on an annual basis to 5.89 billion rupees from 6.25 billion rupees, and total operating expenses declined 10.5% on an annual basis to 5.34 billion rupees from 5.96 billion rupees.

Reported net income rose on an annual basis to 358.5 million rupees, or 2.51 rupees per share, from 126.9 million rupees, or 89 paisa per share.

As of Jan. 29, US$1 was equivalent to 101.13 Pakistani rupees.