Apex Footwear Limited, a leading listed footwear manufacturer in Bangladesh, has reported a more than twofold increase in its net profit for the first quarter of the current fiscal year (July-September). The company's profit rose to Tk5.13 crore, driven by a significant uptick in sales during the period.

Financial Performance

According to the company's unaudited financial statements, net profit for the July-September quarter stood at Tk5.13 crore, more than double the figure recorded in the same period of the previous fiscal year. Revenue during the quarter increased approximately 14 percent year-on-year to Tk551 crore, up from around Tk483 crore in the corresponding quarter last year.

Market Reaction

Following the earnings disclosure, Apex Footwear's share price gained 3.86 percent to reach Tk166.80 on the Dhaka Stock Exchange (DSE) during trading this morning (12 November). The positive market response reflects growing investor confidence in the company's financial performance and growth trajectory.

Business Outlook

The revenue growth has been attributed to sustained demand in the domestic market alongside steady export earnings. Apex Footwear, one of the country's premier footwear manufacturers, caters to both local consumers and international markets. The company's board of directors has approved the financial results for the first quarter of the current fiscal year.