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Bata Shoe’s Q1 profit soars by 99%

Industry: Footwear, Lifestyle & Fashion
Company: Bata Shoe Company Bangladesh Limited
Company Intelligence Tag: Business Insights

Bata Shoe Company (Bangladesh) Ltd, the prominent footwear manufacturer in the country, has witnessed an impressive 99% increase in its net profit during the first quarter of the current year compared to the same period last year. According to an unaudited financial report, the company’s net profit rose to Tk 13.63 crore in the January-March period, demonstrating a substantial growth from Tk 6.85 crore in the previous year.¬†Bata Shoe Company (Bangladesh) also reported a revenue of Tk 245 crore in the first three months of this year, up from Tk 214 crore in the corresponding period of 2022.

The company’s earnings per share (EPS) for the January-March period reached Tk 9.96, a significant rise from Tk 5.01 in the same period last year. Bata Shoe’s performance in 2022 marked a turnaround after experiencing losses in the preceding years due to the impact of the COVID-19 pandemic.

As of March 31, 2023, Bata Shoe Company’s net asset value (NAV) per share stood at Tk 262.12, reflecting positive growth. The company has two manufacturing facilities in Tongi and Dhamrai, with a daily production capacity of 160,000 pairs of shoes and annual sales of approximately 30 million pairs.

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