KARACHI: Honda Atlas Cars Pakistan Ltd posted earnings of Rs446 million for its third quarter ending on Dec 31, 2021, down 41 per cent from a year ago, a stock filing said on Monday.

“Earnings remained lower than expectations primarily due to lower-than-expected gross margins,” said Topline Securities.

Although net profit went down 53pc on a quarterly basis, revenue was up 14pc over the same period. On an annual basis, the company’s topline expanded 67pc to Rs29.5 billion in the three-month period, an increase which the brokerage said was in line with its expectation.

Published in Dawn, January 26th, 2022

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