Apex Footwear revenue surges 29%, profit 11% in nine months of FY25

Apex Footwear has managed to achieve significant growth in both revenue and profit during the first nine months of the current fiscal year despite facing rising costs, driven by increased utility expenses, interest rates, energy shortages, and inflation. 

For the July to March period, its revenue grew to Tk1,368.89 crore, and net profit to Tk6.99 crore, which was Tk1062.77 crore and Tk6.27 crore, respectively, according to its unaudited financial statement for the period ended on March.

The earnings per share (EPS) stood at Tk4.45, up from Tk3.99 in the same period of the previous fiscal year.

But solely, despite increasing its revenue by 36% in the third quarter for the January to March period, its profit declined by 40% compared to the same time of the previous fiscal year.

In Q2, its revenue grew to Tk539 crore, and profit declined to Tk97 lakh with EPS Tk0.62, which was Tk394.89 crore and Tk1.63 crore respectively, the reports showed.

Regarding the variance in profit, the company said during Q3 of FY25, its net sales revenue increased by Tk144.93 crore, equivalent to 36.70% more compared with the same period last year.

Its profit after tax decreased due to more income tax expenses during the quarter, mainly due to more deductions at source against increased export-related collection.

During the third quarter, the income tax amount was Tk6.25 crore more compared with the same period in the last fiscal year. So, finally, the profit decreased during the quarter as against more income tax expenses compared to the same period last year, it said in an explanation.