Honda Pakistan Reports Half-Year Profit of PKR 273 Million

Honda Pakistan Reports Half year profit of PKR 273 million

Highlights:

  • Honda Cars reported its earnings to the Pak Stock Exchange
  • The company gained a Rs. 273 Million half-year profit. 
  • Total Earnings Reduced by 159%
  • Sales Revenue Reduced by 35%

Honda Cars reported its 2nd quarter earnings from July to September 2022 to the Pak Stock Exchange, gaining a Rs. 273 Million half-year profit. 

Half Year Revenue Rose by 4% 

The good news for Honda is on the YoY (year on year) terms, where it saw a half-year revenue increase of 4%.

The revenue increased from Rs 47.7 billion to Rs 49.7 billion on a YoY basis. 

The rest of the reported numbers show hefty losses, details of which are mentioned below.

Total Earnings Reduced by 159% 

Honda’s total earnings were reduced by 159% on a quarter-on-quarter (QoQ) basis, from a profit of Rs 658 million to a loss of Rs 385 million. 

The loss translates into a half-year profit of 273 million, which is an 85% year-on-year (YoY) reduction from the Rs 1.867 billion it recorded in 2021 in the same period. 

Sales Revenue Reduced by 35%

Honda’s sales revenue dropped by 35% QoQ from Rs 30 billion to Rs 19.5 billion. 

Cost of Sales Rose by 94%

Cost of sales as a percentage of sales revenue also rose on a QoQ basis from 94% to 97% leading to the gross profit margin decline, from 6% to 3%.

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