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Bata Shoe Co. Q1 profit falls YOY

Bata Shoe Co. (Bangladesh) Ltd. said its first-quarter normalized net income was 9.47 taka per share, a decline of 11.8% from 10.74 taka per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 129.6 million taka, a decrease of 11.8% from 146.9 million taka in the prior-year period.

The normalized profit margin fell to 6.8% from 7.6% in the year-earlier period.

Total revenue decreased year over year to 1.92 billion taka from 1.94 billion taka, and total operating expenses came to 1.72 billion taka, compared with 1.71 billion taka in the year-earlier period.

Reported net income decreased 10.9% from the prior-year period to 146.6 million taka, or 10.71 taka per share, from 164.5 million taka, or 12.03 taka per share.

As of April 30, US$1 was equivalent to 77.92 taka.