The July-September quarter of this year saw a financial setback for Bata Shoe Company Bangladesh, which attributed its losses to major disruptions brought on by unanticipated events, including as a student-led rebellion in July. According to Bata executives, the company’s operations were negatively impacted by the significant number of working days lost as a result of this turmoil.
In comparison to the same period last year, the company’s unaudited financial statement for the quarter shows a loss of Taka 13 crore. In comparison to the previous year, revenue dropped significantly as well, falling more than 18 per cent to Taka 153 crore during the quarter.
According to Bata, the losses were directly related to the number of working days lost as a result of the unrest, which had a detrimental effect on retail operations and reduced sales and profitability. Based on its January–September 2024 results and retained earnings through 31st December 2023, the corporation has announced a sizable interim cash dividend of 34 per cent despite this difficult quarter. This interim cash dividend is scheduled to be recorded on 19th November.
