High operating costs cut down BATA profits by 12%
MG News | October 30, 2018 at 10:49 AM GMT+05:00
October 30, 2018 (MLN): Bata Pakistan Limited (BATA) has announced profits of Rs. 792 million for the nine months ended 30th September 2018, 12.39% down as compared to the corresponding period last year. The downturn was a result of boosted operating expenses coupled with falling non-core income.
According to the notification issued to PSX, the top-line earnings of the company showed a slight improvement of 6.37%, as well as the cost of sales that grew by merely 5.27%, causing the Gross Profits to increase by 7.89%
However, it was the growth in Distribution cost (13.58%), Administrative cost (10.64%), other expenses (8.8%) along with a fall in non-core income (42.2%) that led to a smothered financial stability.
Furthermore, the increase in Finance cost by 12.51% also contributed in the company’s sliding profits.
The Earnings per share were stated at Rs. 104.79 for the nine months ended 30th September 2018.
The company announced a Cash dividend of 900 (Rs. 90/- per share)
| Profit and loss account for the nine months ended September 30th 2018 (Rupees’000) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| SALES | 11,764,772 | 11,059,871 | 6.37% |
| COST OF SALES | 6,734,640 | 6,397,509 | 5.27% |
| GROSS PROFIT | 5,030,132 | 4,662,362 | 7.89% |
| Distribution cost | 2,854,490 | 2,513,177 | 13.58% |
| Administrative expenses | 803,156 | 725,950 | 10.64% |
| Other expenses | 120,169 | 110,447 | 8.80% |
| OTHER INCOME | 34,140 | 59,064 | -42.20% |
| FINANCE COST | 34,899 | 31,018 | 12.51% |
| PROFIT BEFORE TAXATION | 1,251,558 | 1,340,834 | -6.66% |
| PROVISION FOR TAXATION |
|
|
|
| Current | 450,422 | 458,350 | -1.73% |
| Deferred | 8,913 | -21,747 |
|
| PROFIT AFTER TAXATION | 792,223 | 904,231 | -12.39% |
| EARNINGS PER SHARE- BASIC AND DILUTED | 104.79 | 119.61 | -12.39% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 163,948.94 355.71M | 0.59% 954.77 |
| ALLSHR | 98,115.06 694.25M | 0.60% 589.15 |
| KSE30 | 49,396.77 182.58M | 0.62% 306.55 |
| KMI30 | 235,367.68 199.31M | 0.54% 1269.93 |
| KMIALLSHR | 63,645.64 404.00M | 0.57% 361.06 |
| BKTi | 45,631.49 55.80M | 0.38% 173.39 |
| OGTi | 33,449.53 11.78M | 0.86% 286.64 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 80,085.00 | 80,740.00 80,055.00 | -305.00 -0.38% |
| BRENT CRUDE | 114.06 | 115.30 105.55 | 5.89 5.45% |
| RICHARDS BAY COAL MONTHLY | 113.00 | 0.00 0.00 | 1.00 0.89% |
| ROTTERDAM COAL MONTHLY | 109.45 | 109.70 108.50 | 2.00 1.86% |
| USD RBD PALM OLEIN | 1,191.50 | 1,191.50 1,191.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 104.96 | 105.48 104.67 | -1.46 -1.37% |
| SUGAR #11 WORLD | 15.31 | 15.33 14.85 | 0.36 2.41% |
Chart of the Day
Latest News
Top 5 things to watch in this week
International Reserves/Foreign Currency Liquidity
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|