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Bata Pakistan s profit after tax declines

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Highlights - Corporate News

The profit after tax of Bata Pakistan Limited has slightly declined to Rs 375. 722 million in the half year period ended June 30, 2011 as compared to Rs 382. 730 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held on Wednesday declared that the company s earning per share reduced to Rs 49. 70 in the period under review against Rs 50. 63 in the same period last year.

According to the financial results sent to Karachi Stock Exchange (KSE), the company s net sales increased to Rs 4. 434 billion in the first half of 2011 against Rs 3. 679 billion in the same period in 2010. The cost of sales increased to Rs 2. 754 billion against Rs 2. 153 billion.

The company s operating expenses increased to Rs 1,179. 330 million in this period against Rs 998. 313 million in the same period last year while finance cost increased to Rs 26. 155 million against Rs 18. 796 million. The company s profit before taxation stood at Rs 509. 879 million in the first half of 2011 against Rs 531. 741 million in the same period in 2010.

On quarter basis, the company s profit after tax reduced to Rs 205. 625 million translating into earning per share of Rs 27. 20 in the quarter ended June 30, 2011 as compared to after tax profit of Rs 236. 417 million with per share earning of Rs 31. 27 earned in the same quarter last year.

 

Courtesy: Business Recorder


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