Honda Atlas Posts Huge Profit In FY 2021

Honda Atlas Cars Pakistan Limited HCAR has announced its financial results for the year ended March 31, 2021.

The Honda company reported a profit of Rs 1 billion. 1.79 billion during the year, an increase of 163% compared to a profit of Rs. 681 million in the previous year.

Sales during the year increased by 22.40 per cent to Rs 67.36 billion as compared to Rs 55.04 billion recorded last year. It also announced a final cash profit of Rs. 150,000. 4.52 per share.

The sales volume during the MY21 increased by 7% to 24,072 units, compared to 22,417 units in the FY20. The biggest reason for the increase in its profits was the increase in sales as the release of paint-up demand with attractive rates of auto financing and low financial costs led to a surge in volumes. Another reason is that the company received a higher price for this period.

The cost of sale in MY21 was stated to be Rs. 63.58 billion, an increase of 24.80 per cent, compared to Rs. 50.95 billion. It posted a gross profit of Rs. Delivered to Rs. 3.77 billion, down 7.82% from Rs. 4.09 billion.

The company's second income rose 44% to Rs 1,000. 918.48 million as against Rs. 638.61 million due to increase in new car bookings in the previous year.
Due to the reduction in interest rates during the period, the financing cost of the company decreased by 84.03% to Rs. 10,500,000. 727.44 million during the year as against Rs. 116.15 million.