Bata Shoe (Bangladesh) Limited, the Bangladesh arm of the Switzerland-based multinational entity, had to incur significant loss in the first half of company’s financial year, thanks to significant decline in sales owing to COVID-19 outbreak in the country.
According to media reports, Bata Shoe (Bangladesh) Limited registered sales to the tune of Taka 204.92 crore in the said period, which in the corresponding period of last year was Taka 459.19 crore.
Further, in first half of the financial year, the company reported Taka 51.67 losses per share compared to Taka 19.11 earnings per share in the corresponding period of previous year.
As per the financial statement issued by the Bata Shoe (Bangladesh) Limited, about 25 per cent of business is generated around the time of Eid, but this time around it had to suffer on account of outbreak of the pandemic.
The company suffered Taka 53.74 losses per share for April-June 2020 as against earnings of Taka 15.85 per share for April-June 2019.
Incorporated in 1972, Bata Shoe (Bangladesh) Limited is one of the operating companies of the global Bata Shoe Organisation.