July 30, 2021
KARACHI: Habib Bank Limited (HBL) net profit increased 18.7 percent to Rs18.029 billion for the half-year ended June 30, 2021, translating into earnings per share (EPS) of Rs12.04, a bourse filing said on Thursday.
The bank earned Rs15.18 billion profit with EPS of Rs10.32 during the half year ended June 30, 2020. An interim cash dividend of Rs1.75/share was announce, that took 1H2021 cumulative dividend to Rs3.5/share.
Analyst Umair Naseer of Topline Securities in his note said, “Earnings of the bank came in higher than industry expectations driven by better than expected provisioning charge and improve fee income.”
Net interest income of the bank went up 2.8 percent to Rs64.864 billion in the 1H2021, from Rs63.075 billion in the same period last year. However, it declined 7.6 percent to Rs32.394 billion in Q2, from Rs35.061 billion in the same quarter last year. This was in line with estimates, as SBP had reduced policy rate.
Car sales skyrocket 90% in FY21
Demand, however, remains 28% lower compared to peak recorded in FY18
KARACHI:
The total number of cars sold in Pakistan in fiscal year 2020-21 soared 90% compared to the previous fiscal year (FY20), but sales remained 28% lower than the all-time high of 329,000 units reached in FY18.
Pakistan’s total car sales were estimated to have increased by 90% year-on-year to 238,000 units in fiscal year 2020-21, stated a report released by Topline Securities on Tuesday.
The report took into account sales by Pakistan Automotive Manufacturers Association (PAMA) and non-PAMA members as well as imports.
According to it, PAMA members sold 181,000 units during fiscal year 2020-21, which was 62% higher than fiscal year 2019-20.
More carmakers announce price reduction
String of price cuts came after govt unveiled tax incentives in new policy
KARACHI:
After Pak Suzuki Motor Company and Indus Motor Company, KIA Lucky Motors, Honda Atlas Cars and Hyundai Nishat have also announced reduction in prices of their vehicles in order to pass on the benefit of tax withdrawal to consumers.
On July 7, the federal government announced tax incentives under the new auto policy, which have now sparked a string of price cuts by the auto companies.
Honda Atlas Cars reduced the price of Civic 1.5 RS Turbo by Rs135,000, which dropped from Rs4.7 million to Rs4.56 million.
Honda and Toyota Suffer as Car Sales Witness a Huge Drop propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
HACL yearly profit jumps 163pc
Business
May 26, 2021
KARACHI: Honda Atlas Cars Ltd (HACL) on Tuesday announced its net profit for the year ended March 31, 2021, surged 163 percent to Rs1.79 billion compared to Rs681.75 million recorded in the previous year.
The carmaker in a statement said the earnings per share (EPS) for the year under review clocked in at Rs12.56 as against Rs4.77 in the previous year. Company also declared a final cash dividend of Rs4.52/share compared with dividend of Rs1.0/share in the previous year.
Honda Atlas Cars sales revenues increased 22.3 percent to Rs67.36 billion during the year, compared with Rs55.04 billion in the previous year.