Bata Pakistan quarterly profit falls 52%, declares Rs130 DPS

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%.

Amount in thousand except for EPS

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