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Bata Pakistan Q2 profit climbs 33.2% YOY

Bata Pakistan Ltd said its second-quarter normalized net income came to 49.48 Pakistani rupees per share, a gain of 33.2% from 37.16 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 374.1 million rupees, a gain of 33.2% from 280.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 8.9% from 7.8% in the year-earlier period.

Total revenue rose 17.0% on an annual basis to 4.20 billion rupees from 3.59 billion rupees, and total operating expenses climbed 14.7% from the prior-year period to 3.59 billion rupees from 3.13 billion rupees.

Reported net income increased 28.8% from the prior-year period to 359.5 million rupees, or 47.55 rupees per share, from 279.0 million rupees, or 36.91 rupees per share.

As of Aug. 30, US$1 was equivalent to 104.80 Pakistani rupees.