Bata Pakistan Limited has reported a profit of Rs. 256.5 million for the quarter ending June 30, 2024. This is a decrease compared to the profit of Rs. 285.66 million that the company earned during the same period last year.
The company’s revenue for this quarter also saw a decline, dropping by 13.8% year-over-year. This quarter’s revenue was Rs. 5.04 billion, down from Rs. 5.85 billion in the previous year. This reduction in revenue happened even though the cost of sales was lower. As a result, Bata’s gross profit also decreased by 10.8%, amounting to Rs. 2.37 billion.
Despite these declines, there was a positive aspect in the form of improved gross margins. Bata’s gross margins increased to 47.1% from 45.5% in the same period last year. This improvement suggests that the company managed its costs more efficiently during the quarter, which helped offset some of the impact from the lower revenue.
