Corporate Result: HCAR suffer Losses of Rs. 511 Mn in 1st Quarter

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In a notification to the Pakistan Stock Exchange, Honda Atlas Cars Limited (PSX:HCAR) released its financial results for the quarter ended June 30, 2020 approved by the board of directors.

According to the financial statements, the company reported a loss of Rs. 511 Mn with the loss per share amounting to Rs. 3.58 for the quarter ended June 30, 2020.

The financial results show that the sales decreased by 63.5% from value of Rs.17.8 Bn in 2019 to the value of Rs.6.5 Bn in 2020. Due to low sale revenue, gross profit fell to the value of Rs.54.2 Mn similarly the cost of sales also dropped.

The operating expenses decreased by 83%. However, the distribution and marketing costs increased by 1.6%. Administrative expenses decreased by 24% from the value of Rs.196 Mn in 2019 to the value of Rs.147 Mn.

HCAR–QUARTER ENDED

1st Quarter

LPS 2020 = (3.58) PKR

EPS 2019 = 1.69 PKR

Cash Dividend = NIL

Bonus Share = NIL