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Bata Pakistan Q1 profit falls YOY

Bata Pakistan Ltd. said its first-quarter normalized net income was 27.37 Pakistani rupees per share, a decrease of 16.6% from 32.82 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 206.9 million rupees, a decrease of 16.6% from 248.1 million rupees in the prior-year period.

The normalized profit margin fell to 6.3% from 8.3% in the year-earlier period.

Total revenue rose 9.8% on an annual basis to 3.28 billion rupees from 2.98 billion rupees, and total operating expenses grew 13.9% from the prior-year period to 2.94 billion rupees from 2.58 billion rupees.

Reported net income declined 18.2% on an annual basis to 229.8 million rupees, or 30.40 rupees per share, from 280.9 million rupees, or 37.16 rupees per share.

As of April 28, US$1 was equivalent to 101.76 Pakistani rupees.