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Honda Atlas Cars Pakistan’s Profits Nosedive Despite Massive Sales
Honda Atlas Cars Pakistan Ltd. (HCAR) has announced its financial results for the third quarter that ended December 31, 2021. In a notification to the Pakistan Stock Exchange, the company has reported a profit of Rs. 445.94 million during the third quarter down by 41 percent as compared to the same period of the previous financial year when it reported a profit of Rs. 751.80 million. According to a report by Topline Securities, the earnings of the company remained lower than expectations primarily due to lower-than-expected gross margins. ALSO READ Mari Petroleum Reports Modest Profit in 2QFY22 During the first…