Bata Shoe Bangladesh’s profit nearly doubles

Bata Shoe Company (Bangladesh) Limited's profit surged 98.80 per cent year-on-year to Tk 13.63 crore in the first quarter of 2023, riding on higher revenue growth.

The profit stood at Tk 6.85 crore in the same January-March quarter of 2022.

Thus, earnings per share rocketed to Tk 9.96 in January-March against Tk 5.01 in the identical three-month period of 2022, according to the unaudited financial statements.

The EPS increased significantly driven by revenue growth, especially due to school and winter seasonal businesses and other promotional activities, said the multinational company in a filing on the Dhaka Stock Exchange.

The net operating cash flow per share (NOCFPS) plummeted to Tk 1.73 in the first quarter from Tk 10.23 a year ago.

The NOCFPS decreased because of various payments to suppliers and contractors for goods and services, said the filing.

The net asset value per share rose to Tk 262.12 on March 31 from Tk 252.16 on December 31.