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Honda Atlas Cars profit beats consensus by 70.9% in fiscal Q1

Honda Atlas Cars (Pakistan) Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 5.58 Pakistani rupees per share, compared with the S&P Capital IQ consensus estimate of 3.26 rupees per share.

EPS rose 95.5% year over year from 2.85 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 796.5 million rupees, an increase of 95.2% from 408.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 7.1% from 3.7% in the year-earlier period.

Total revenue rose year over year to 11.29 billion rupees from 10.91 billion rupees, and total operating expenses declined from the prior-year period to 10.01 billion rupees from 10.24 billion rupees.

Reported net income grew 92.3% from the prior-year period to 629.9 million rupees, or 4.41 rupees per share, from 327.5 million rupees, or 2.29 rupees per share.

As of Sept. 12, US$1 was equivalent to 102.35 Pakistani rupees.