Honda Atlas Revenue Increased By 40% After Tax

The past several years have been extremely difficult for the local auto sector, particularly in light of the epidemic and the subsequent economic downturn. Profit volumes were low due to historically low sales. However, the local organizers and supporters hoped that the shock would soon end. Remarkably, the most recent update states the same thing.

The Surge in Profit

Honda Atlas Cars Limited (HCAR) reported a 40% increase in its after-tax profit in its financial statement, which is available on the Pakistan Stock Exchange. The company's profit for the quarter ended June 30, 2024–25, was Rs. 202.63 million, compared to Rs. 144.96 million in the same period the previous year.

The profit rise mentioned above may be attributed to a staggering 324% growth in sales, which came in at Rs. 15.97 billion as opposed to Rs. 3.77 billion during the quarter. This essentially indicates that during the first quarter of MY25, the firm recorded a gross profit of Rs. 1.01 billion.

HCAR's first quarter fiscal year 2024–25 financial performance was uneven. The firm experienced several difficulties even though its profit before tax (PBT) increased by 43% to Rs 383.3 million annually.

Report on Sales

In terms of month-over-month sales, the Honda Atlas sold 1,097 units in May 2024 as opposed to 1,187 units in May 2024, an 8% decline. The business sold 113 BR-V units and 982 City and Civic units.

The Pakistan Automotive Manufacturers Association (PAMA) said that last month saw a 21% increase in month-over-month (MoM) car sales, with 13,284 cars sold in June 2024 as opposed to 10,949 in May 2024.

But year-over-year (YoY) sales showed a staggering 120% increase. The stability of the Pakistani Rupee with the US dollar is responsible for this upward tendency. 13,284 automobiles were sold by automakers in the reporting period, up from just 6,033 during the same time in the previous year.

Arifa Hussain

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