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Bata Shoe Co. Q1 profit climbs 8.5% YOY

Bata Shoe Co. (Bangladesh) Ltd. said its first-quarter normalized net income came to 10.28 taka per share, an increase of 8.5% from 9.47 taka per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 140.7 million taka, an increase of 8.5% from 129.6 million taka in the prior-year period.

The normalized profit margin rose to 7.1% from 6.8% in the year-earlier period.

Total revenue grew on an annual basis to 1.97 billion taka from 1.92 billion taka, and total operating expenses rose from the prior-year period to 1.74 billion taka from 1.72 billion taka.

Reported net income rose 8.3% on an annual basis to 158.8 million taka, or 11.60 taka per share, from 146.6 million taka, or 10.71 taka per share.

As of April 29, US$1 was equivalent to 78.44 taka.