Bata Pakistan quarterly profit falls 52%, declares Rs130 DPS
MG News | October 24, 2024 at 02:52 PM GMT+05:00
October 24, 2024 (MLN): Bata Pakistan Limited (PSX: BATA) recorded a decrease of 51.8% in its profits in the quarter ending September 2024, with the company's after-tax profits falling to Rs106.41 million [EPS: Rs14.08], compared to a profit of Rs220.8m [EPS: Rs29.21] in the same period last year (SPLY).
Along with the results, the company announced a cash dividend of RS130 per share i.e. 1,300%.
Going by the results, the company's sales dipped 3.4% to Rs4.31bn as compared to Rs4.46bn in SPLY, which worsened the gross profit by 1.9% to Rs2.07bn in Q1 FY25.
The gross margins, however, improved slightly to 48.2% as compared to 47.4% in SPLY.
The company's other income also decreased 78.0% to stand at Rs35.23m in Q1 FY25 as compared to Rs159.89m in SPLY.
On the expense side, the company's administrative expenses rose 5.5% from a year ago to Rs514.68m, other operating expenses rose 81.4% to Rs20.83m, while selling and distribution expenses fell 4.5% to Rs1.31bn.
The company’s finance cost was down by 14.3%to Rs171.24m as compared to Rs199.71m in SPLY.
On the tax front, the company received a tax credit worth Rs37.62m against Rs17.33m received in the corresponding period of last year, depicting an increase of 117.1%.
| Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 4,305,846 | 4,457,112 | -3.39% |
| Cost of sales | (2,231,481) | (2,343,457) | -4.78% |
| Gross Profit/ (loss) | 2,074,365 | 2,113,655 | -1.86% |
| Administrative Expenses | (514,684) | (488,095) | 5.45% |
| Selling And Distribution Expenses | (1,309,026) | (1,370,784) | -4.51% |
| Other Gains / (Losses) | (25,023) | - | - |
| Other Income | 35,226 | 159,890 | -77.97% |
| Other Operating Expenses | (20,826) | (11,484) | 81.35% |
| Finance Cost | (171,242) | (199,712) | -14.26% |
| Profit/ (loss) before taxation | 68,790 | 203,470 | -66.19% |
| Taxation | 37,615 | 17,326 | 117.10% |
| Net profit/ (loss) for the period | 106,405 | 220,796 | -51.81% |
| Basic earnings/ (loss) per share | 14.08 | 29.21 | - |
Amount in thousand except for EPS
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