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Atlas Honda fiscal Q1 profit climbs 14.3% YOY

Atlas Honda Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 4.69 Pakistani rupees per share, an increase of 14.3% from 4.10 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 485.0 million rupees, a gain of 14.3% from 424.4 million rupees in the prior-year period.

The normalized profit margin increased to 4.3% from 3.9% in the year-earlier period.

Total revenue increased on an annual basis to 11.21 billion rupees from 10.76 billion rupees, and total operating expenses rose from the prior-year period to 10.44 billion rupees from 10.08 billion rupees.

Reported net income increased 17.3% from the prior-year period to 573.5 million rupees, or 5.55 rupees per share, from 488.9 million rupees, or 4.73 rupees per share.

As of Aug. 13, US$1 was equivalent to 99.70 Pakistani rupees.