BATA earnings soar 2100% in Q2

Footwear brand Bata Shoe Company (Bangladesh) Ltd has posted a 2100 per cent rise in its earnings for the second quarter in 2022.

Its earnings per share (EPS) rose to Tk 19.41 in April-June period from Tk 1.15 recorded in the same period a year ago, the company said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

BATA said EPS increased driven by revenue growth in sales volume and amount, especially due to Eid seasonal business.

However, the net operating cash flow per share (NOCFPS) of the company dropped in the first half of the current year. Its NOCFPS was Tk 28.86 for January-June 2022 as against Tk 40.99 for January-June 2021.

NOCFPS decreased driven by payments to suppliers for purchase and stock of materials to cover growing demand for shoes, it said. Its net asset value (NAV) per share was Tk 274.24 as on June 30, 2022 and Tk 252.33 as on December 31, 2021.

The company was listed on the stock market in 1985 and has a paid-up capital of Tk 13.68 crore.

Out of the company's total shares, sponsors and directors jointly held 70 per cent institutional investors 20.74 per cent, foreign investors 1.58 per cent, and general investors 7.68 per cent.