The Linde Bangladesh has witnessed steep fall in oxygen sale in the third quarter of the current year as the pandemic-induced medical oxygen crisis is disappearing in phases.
The gas manufacturing company’s oxygen sale declined 11 per cent in July-September period, compared to the same period of the previous year, which was marred with Covid-19 outbreak.
However, the company’s revenue, profit and earnings increased if all the past nine months of the current year are taken into account.
According to its financial disclosure, Linde Bangladesh’s revenue declined 10.65 per cent to Tk 122 crore while net profit dropped 25.96 per cent to Tk 27.38 crore in the third quarter.
An official of the company told The Business Post that the declined oxygen demand hit the company’s earnings hard. It took a severe turn in the third quarter as the demand for medical oxygen declined to a great extent during the period thanks to improved Covid situation.
The global scenario of Linde’s medical oxygen sale is not in contrast to that of Bangladesh, he added.
In the past nine months, the company’s revenue increased around 12 per cent to Tk 375 crore and while the net profit increased 24 per cent.
On the last trading day at the Dhaka Stock Exchange, the company’s share price declined 7.4 per cent to Tk 1,528.
According to its latest annual report, the company has taken an initiative to establish a Debulking Station (Hub and Spoke Model) near Benapole port.
It is expected to play the role of a Buffer for Oxygen and other gases and improve reliability and distribution support.
Linde Bangladesh Limited also plans to revamp its Shitalpur plant.
It hoped that the revamping will result in yield improvement and higher efficiency. In addition, company also has a plan to build another
ASU plant in Bangladesh in the next few years.