KARACHI: Japanese automobile giant Honda Atlas Cars announced that their net profit up to 71 per cent to Rs1.08 billion in the quarter ending on June 30, 2015, compared to the same quarter of fiscal year 2015.
Earnings per share (EPS) of the company increased to Rs7.60 from an EPS of Rs4.41 in the preceding period.
Decline in saving deposit rate following the 3 basis points (bps) cut in discount rate restricted other income of the company to Rs88 million (-4% year on year).
Top-line of the company improved by 1% year on year to Rs11.37 billion mainly due to 5% improvement in volumetric sales. gross profit of the company increased by 26% year on year to Rs1.80 million (GP margins of 15.8%).
Localisation initiatives and depreciation in the rupee and yen contributed towards the increase.
