Bata Pakistan reports Rs851mn profit for 2024, down 7% YoY
By MG News | February 27, 2025 at 02:54 PM GMT+05:00
February 27, 2025 (MLN): Bata Pakistan Limited (PSX: BATA) has reported a profit of Rs851 million for the year ended December 31, 2024, marking a 7% decline compared to Rs916mn in 2023.
Bata Pakistan’s earnings per share (EPS) dropped from Rs121.2 in 2023 to Rs112.53 in 2024, reflecting the lower profitability.
The company’s total comprehensive income for the year also fell by 7.5% to Rs847mn.
The decline in profitability was primarily driven by a 5% decrease in revenue from contracts with customers, which stood at Rs18 billion compared to Rs19bn in the previous year.
The cost of sales dropped by 8% to Rs. 9bn, helping to cushion the impact of lower revenue, resulting in a gross profit of Rs9bn, down 1.4% year-over-year.
Operating expenses showed mixed trends, with distribution costs decreasing by 4.72% to Rs5bn, while administrative expenses increased by 5% to Rs2bn.
The net impairment loss on financial assets surged significantly by 67% to Rs35mn.
Other income declined by 31% to Rs363mn, and finance costs saw an 11% reduction to Rs669.6mn.
Despite these challenges, the company managed to achieve a 3% increase in profit before tax, reaching Rs1.4bn.
However, higher income tax expenses, which rose by 25% to Rs533.6mn, contributed to the overall decline in net profit.
| Statement of profit and loss for the year ended December 31, 2024 (in Rupees '000) | 2024 | 2023 | %Change |
| Revenue from contracts with customers - net | 18,332,461 | 19,262,623 | -4.83% |
| Cost of sales | (9,318,309) | (10,116,127) | -7.89% |
| Gross profit | 9,014,152 | 9,146,496 | -1.45% |
| Distribution costs | (5,294,971) | (5,557,515) | -4.72% |
| Administrative expenses | (1,897,994) | (1,808,415) | 4.95% |
| Net impairment loss on financial assets | (35,013) | (21,006) | 66.68% |
| Other expenses | (95,406) | (191,243) | -50.11% |
| Other income | 363,217 | 527,857 | -31.19% |
| Finance costs | (669,627) | (753,161) | -11.09% |
| Profit before income tax | 1,384,358 | 1,343,013 | 3.08% |
| Income tax | (533,628) | (426,725) | 25.05% |
| Profit for the year | 850,730 | 916,288 | -7.15% |
| Other comprehensive loss for the year | (3,829) | (721) | 431.07% |
| Total comprehensive income for the year | 846,901 | 915,567 | -7.50% |
| Earnings per share - basic and diluted | 112.53 | 121.20 |
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