After tax loss of Honda Atlas Cars reduces to Rs 55.557 million

The after tax loss of Honda Atlas Cars (Pakistan) Limited has reduced to Rs 55.557 million in the quarter ended September 30, 2010 as compared to a loss of Rs 380.489 million recorded in the corresponding period in 2009.
The board of directors of the company in its meeting held on Tuesday declared that the company's loss per share declined to Re 0.39 in the period under review against Rs 2.66 in the same period a year back.
According to the financial results sent to Karachi Stock Exchange (KSE), the company's sales increased to Rs 5.022 billion in this quarter against Rs 4.102 billion in the same quarter last year. The cost of sales increased to Rs 4.966 billion against Rs 4.236 billion. The company's loss before taxation stood at Rs 68.375 million in this period against Rs 336.030 million in the same period last year.