Lahore October 28 2023: Bunny's Limited reported loss of PKR 47 million for the first quarter of fiscal year 2024 on higher higher distribution and finance cost, according to company filing to the exchange.
Company show a remarkable 24.16% growth in revenue when compared to the first quarter of the previous year.
Despite the persistently fluctuating input costs over the past two years, largely influenced by the overall economic conditions of our country, management took proactive step to increase product prices in September 2023.
In the face of these challenging times and a demanding business environment, company has achieved a net operating margin of 3.66% for the quarter in question.
However, it is important to note that the company did incur a net loss of 2.84% primarily due to increased distribution and finance costs.
"The management team is striving hard to match output prices with input coststo maintain profitability. Just as we have consistently demonstrated in the past, we continue to adopt a proactive approach, optimizing our operations and process to enhance competitiveness in the market" says mangement.
"To ensure its role as one of the industry leaders, your Company is in a continuous process to update its plant and equipment with cutting edge technology. This ensures sustainability of Company’s operations in the most efficient and cost-effective manner" states company.