The Financial Express

Bata Shoe returns to profit in April-June

| Updated: August 31, 2021 13:33:14

Bata Shoe returns to profit in April-June

Bata Shoe Company (Bangladesh) has returned to profit in the second quarter (Q2) for April-June 2021 as against the same quarter last year thanks to a boost in sales. 

The company has reported its earnings per share (EPS) of Tk 1.15 for April-June, 2021 as against a loss of Tk 53.74 per share recorded in the same period last year, said the company in a filing with the Dhaka Stock Exchange (DSE) on Sunday. 

As of June 30, 2021, the company’s net asset value per share stood at Tk 265.50 against Tk 267.64 as of December 31, 2020. 

However, in the six months for January-June, 2021, the company incurred a loss of 2.44 per share as against the loss of Tk 51.67 per share for January-June 2020. 

The net operating cash flow per share (NOCFPS) was Tk 40.99 for January-June 2021 against the loss of Tk 5.85 for January-June 2020. 

The company has stated that during April-June, 20201, the company’s revenue increased by 426 per cent in comparison with the same period of the last year due to boost sales and clear of aged merchandise by offering a bulk discount to the customers. 

“EPS increased for higher net profit compared to the same period of the last year driven by increased sales and maintained expenses in proportion to turnover though at the same time continuing the 2nd wave of Covid-19,” said the company. 

Each share of the multinational shoemaker, which was listed on the DSE in 1985, closed at Tk 747.20 on Sunday, gaining 4.61 per cent over the previous day. 

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