Lahore: Bunny’s Limited, a prominent player in the Pakistani bakery sector, has reported a revenue increase of 23.26% for the fiscal year ended June 30, 2024, amidst a challenging economic landscape marked by high inflation and political instability. Despite the revenue upsurge, the company experienced a downturn in profitability due to rising operational costs and a significant increase in financial charges.

According to information available from the Pakistan Stock Exchange (PSX), Bunny's Limited navigated a tough economic environment characterized by hyperinflation and increased utility prices, which pushed input costs higher. Additionally, the unprecedented rise in interest rates, which climbed by 30% from the previous year, significantly impacted the financial standing of the company.

The financial statements released show that the company's gross profit margin decreased by 3.60% compared to the previous year. Operating profit also saw a decrease from 7.17% to 3.57%. The total revenue for the period was recorded at PKR 7.01 billion, while the loss before taxation stood at PKR 5.11 million, a stark contrast to the previous year's profit of PKR 198.19 million.

In light of these challenges, Bunny’s Limited has refrained from declaring any dividends for the year, prioritizing financial stability and strategic investments in plant and equipment upgrades to ensure long-term sustainability. The company remains committed to maintaining operational efficiency and a competitive edge through continuous monitoring of the business impacts.