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Honda Atlas Cars fiscal Q2 profit climbs YOY

Honda Atlas Cars (Pakistan) Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3.37 Pakistani rupees per share, compared with the S&P Capital IQ consensus estimate of 3.09 rupees per share.

EPS climbed year over year from 42 paisa.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 480.3 million rupees, an increase from 61.4 million rupees in the prior-year period.

The normalized profit margin rose to 5.9% from 0.6% in the year-earlier period.

Total revenue decreased 22.7% year over year to 8.09 billion rupees from 10.47 billion rupees, and total operating expenses declined 29.4% year over year to 7.32 billion rupees from 10.36 billion rupees.

Reported net income totaled 586.5 million rupees, or 4.11 rupees per share, compared to a loss of 13.2 million rupees, or a loss of 9 paisa per share, in the prior-year period.

As of Nov. 28, US$1 was equivalent to 101.80 Pakistani rupees.