Citing power and parking crisis, Bishal Bazaar reports stagnant growth

ShareSansar, May 28:

Even though the fourth quarter is drawing to an end, Bishal Bazaar Company Limited has come up with its financial statement for the second quarter today, as per which it has posted a very marginal net profit rise of 1 percent.

One of the oldest supermarkets of the country has stated that it posted Rs 2.23 crore in profit after tax by the end of the second quarter, up from Rs 2.22 crore in the corresponding quarter of the last fiscal year 2069/70.

The growth was stunted by drop in the operational income which stood at Rs 3.01 crore at the second quarter, down from Rs 3.25 crore in the corresponding quarter.

It has managed to post the marginal growth mainly due to lesser amount it provisioned for 25 percent income tax, provision for staff bonus in the second quarter as compared to the corresponding quarter, while its expenses (depreciation and interest) have also fallen in the second quarter.

Though the company has stated that its growth remains satisfactory, it has added that the biggest challenges it faces are surging operational cost due to load shedding, parking lot problem in New Road area where the supermarket is located.

Bishal Bazaar’s EPS stood at 44.77, net worth per share at 485.23, P/E ratio at 38.78.