BATA's semiannual profits weighed down by cost overrun

MG News | August 27, 2019 at 10:34 AM GMT+05:00

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August 27, 2019 (MLN): Bata Pakistan Limited (BATA) announced their 6 Month result for the period ending Jun 30, 2019

The company declared a Profit After tax of Rs.652.85 million which is 8.43 percent lower than the corresponding period from last year.

The net sales of the company grew by merely 5 percent, whereas Cost of sales remained somewhat constant. This resulted in a 12 percent increase in Gross profit.

This translates into an EPS of 86.36 compared to the previous EPS of 94.3.

**Profit & Loss Account For the Period Ending June 30, 2019 - (Rupees'000)**
	Jun-19	Jun-18	% Change
Net Sales	8,793,713	8,298,127	5.97
Cost of Sales	-4,734,318	-4,677,192	1.22
Gross Profit	4,059,395	3,620,935	12.11
Distribution cost	-2,142,778	-1,834,969	16.77
Administrative expenses	-566,066	-544,785	3.91
Other expenses	-97,693	-104,153	-6.2
Other income	15,090	23,927	-36.93
Finance cost	-359,024	-23,847	1405.53
Profit before taxation	908,924	1,137,108	-20.07
Provision for taxation	-256,074	-424,181	-39.63
Profit after taxation	652,850	712,927	-8.43
Basic and diluted earnings per share (Rupees)	86.36	94.3	-8.42