Atlas Honda Achieves Record Quarterly Profits

Jawad

24 Oct 2023

352

Atlas Honda Achieves Record Quarterly Profits

Atlas Honda, colloquially known as Honda Bikes, has recently announced remarkable financial results for the third quarter ending on September 30, 2023. As per their disclosure to the Pakistan Stock Exchange (PSX), the company has achieved a record quarterly profit of Rs. 1.96 billion.

Economic analyst Muqeet Naeem, commenting on this achievement, noted that the company's revenue has also reached an all-time high at Rs. 39 billion. He highlighted that although a significant portion of the earnings is derived from other sources, the subsequent quarters are expected to exhibit robust performance in the core business. This positive outlook is attributed to improved agricultural income and the strengthening of the Pakistani Rupee (PKR), which is anticipated to further boost profits.

In the official communication to the PSX, Atlas Honda also declared an interim cash dividend of Rs. 17 per share, equivalent to 170% for the half-year ending on September 30, 2023. The company did not propose any bonus share issuance or right shares for the same period. Additionally, the Share Transfer Books of the company will be closed from November 4, 2023, to November 6, 2023.

One significant contributing factor to this profit surge is the historically high prices of Honda motorcycles. Notably, the Honda CD 70 is currently priced at Rs. 157,900, a figure that surpasses the expectations of an average consumer. Over the past couple of years, Atlas Honda has consistently raised prices, and curiously, no clear rationale has been provided for these increases. While motorcycle prices usually align with changes in the exchange rate, the PKR has recently appreciated against the USD, but there have been no corresponding reductions in bike prices.

Despite rumors circulating in the local market about potential price cuts by Atlas Honda, these hopes have proven unfounded. A Honda bike dealer informed that there are no immediate prospects of price reductions, implying that affordable bikes will remain out of reach for the time being.

We invite you to share your thoughts on Atlas Honda's record-breaking profits in the comments section. Your perspectives are invaluable to us.

Atlas Honda Honda Bikes Quarterly Profits Financial Results Pakistan Stock Exchange PSX Revenue Economic Analysis PKR Appreciation Motorcycle Prices Affordable Bikes

« PREV POST
Toyota Seeks Tax Reduction for Hybrids in India

NEXT POST »
Kia Carnival Facelift Caught in Spy Shots Without Camouflage

Related Auto News Updates