Karachi, In the latest financial results announced by Atlas Honda Limited for the quarter ended June 30, 2023, the company reported a positive performance with increased profit and bonus share issuance.
The Board of Directors of Atlas Honda Limited convened on Wednesday, July 26, 2023, in Karachi, where they recommended the following key actions:
1. Interim Cash Dividend: An interim cash dividend for the quarter ended June 30, 2023, was approved at Rs. NIL per share, which amounts to NIL% of the share value. This is in addition to any previous interim dividends already paid at Rs. NIL per share, i.e., NIL%.
2. Bonus Shares: The Board recommended issuing Interim Bonus shares in proportion to NIL share(s) for every NIL share(s) held, equivalent to NIL% of the total. This is in addition to the Interim Bonus Shares previously issued at NIL%.
3. Right Shares: A recommendation was made to issue NIL% Right Shares at par/at a discount/premium of Rs. NIL per share in proportion to NIL share(s) for every NIL share(s). The entitlement of right shares will be declared simultaneously and will not be applicable to the Bonus Shares declared above.
Regarding the financial performance, the company reported a net sales figure of Rs. 35,621,093,000 for the three-month period ended June 30, 2023, compared to Rs. 37,685,080,000 for the same period in 2022. The gross profit stood at Rs. 1,878,046,000, whereas the profit from operations amounted to Rs. 2,777,053,000, showcasing growth compared to the previous year.
After accounting for expenses, taxes, and other income, the company achieved a profit after taxation of Rs. 1,602,379,000, reflecting an increase from Rs. 1,502,520,000 reported in the same period last year. This translates to an earnings per share of Rs. 12.91, compared to Rs. 12.11 in the corresponding period in 2022.
No interim dividend has been declared in this quarter’s results.
The company’s Quarterly Report for the period ended June 30, 2023, will be released within the specified time, providing further insights into the financial performance and operations during the quarter.