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% |
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