Bata Pakistan Limited announced a profit of Rs. 256.5 million for the quarter ending June 30, 2024. While the company remained profitable, this figure represents a decline from the Rs. 285.66 million profit reported in the same period last year.
The company’s revenue for the quarter also saw a decrease, dropping by 13.8% to Rs. 5.04 billion, compared to Rs. 5.85 billion in the previous year. Despite a reduction in the cost of sales, gross profit fell by 10.8%, amounting to Rs. 2.37 billion.
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This decline in profit and revenue highlights the challenges Bata Pakistan faces in maintaining its financial performance amid changing market conditions. The company’s management will likely focus on strategies to improve sales and profitability in the coming quarters.
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