Fakiha Tariq

Bata Pakistan Limited’s net profit went up by 60% to Rs874 million and its earnings per share reached Rs115.65 in the calendar year 2022 compared to the previous year, WealthPK reports. Bata Pakistan Limited is listed on the Pakistan Stock Exchange (PSX) with the symbol BATA in the leather and tanneries sector. With a market capitalisation of Rs13.2 billion, BATA is the largest company operating in leather and tanneries sector and is a well-known shoe brand name in Pakistan. Incorporated in 1951, BATA went public in the year 1979. The primary business of the company is the manufacturing, marketing and selling of footwear, domestically and internationally.

In 2022, the company posted incremented revenues of Rs17.7 billion against Rs13.9 billion in 2021. Likewise, the company’s gross profit increased 33% year on year in 2022. The company’s gross profit in 2022 was reported to be Rs8.5 billion, whereas in 2021 BATA posted gross profit of Rs6.4 billion.

The company’s net profit moved up by 66% from Rs546 million in 2021 to Rs874 million in 2022. Likewise, in CY22, BATA’s EPS value also grew up to Rs115.65 from Rs72.23 posted in CY21.

BATA – historical sales review – CY18-CY22

In 2022, BATA grabbed the highest five-year revenues of Rs17.7 billion followed by CY19 sales of Rs17.4 billion. The company posted the lowest five-year sales of Rs11 billion in CY20. However, in the last three years from CY20 to CY22, an increasing trend can be seen in BATA’s sales value.

BATA – historical profits review – CY18-CY22

Likewise, BATA posted the highest five-year gross profit of Rs8.5 billion in 2022. The company earned a gross profit of Rs7.8 billion in CY19. The company posted the lowest gross profit of Rs4.3 billion and net loss of Rs627 million in 2020. From there onwards, BATA improved its profit making and posted gross profit of Rs6.4 billion and net profit of Rs546 million in CY21.

The increasing trend continued, peaking in CY22.

BATA – historical EPS review – CY18-CY22

The company posted the highest five-year EPS of Rs198.60 in CY18. The EPS stood at Rs115.65 in CY22.

BATA posted loss per share of Rs82.98in CY20.

Credit: Independent News Pakistan-WealthPk