After tax loss of Honda Atlas Cars declines

RECORDER REPORT

KARACHI: The after tax loss of Honda Atlas Cars (Pakistan) Limited has reduced to Rs 27.135 million in the half year period ended September 30, 2011 as compared to the after tax loss of Rs 156.441 million posted the corresponding period in 2010.

The board of directors of the company in its meeting, held here on Friday, declared that the company's per share loss has reduced to Re 0.19 in the period under review against per share loss of Rs 1.10 in the same period last year. According to the financial results sent to Karachi Stock Exchange, the company's sales slightly increased to Rs 10.665 billion in this period against Rs 10.660 billion in the same period a year back. The cost of sales stood at Rs 10.393 billion against Rs 10.517 billion.

The company's other operating income increased to Rs 142.239 million in the half-year period this year against Rs 50.644 million in the same period last year while the company's other expenses increased to Rs 119.068 million against Rs 87.489 million. The company posted Rs 97.316 million as profit before taxation in the half-year period this year against loss before tax of Rs 128.506 million in the same period last year.

On quarterly basis, the company posted Rs 23.964 million as profit after taxation translating earning per share of Re 0.17 in the quarter ended September 30, 2011 against after tax loss of Rs 55.557 million with per share loss of Re 0.39 in the same quarter last year.