Bangas returns to profit in Q1

Bangas Limited, one of the oldest biscuit makers in the country, turned to profits in the first quarter (Q1) of this fiscal year from a year ago, thanks to a recovery in sales.

It logged Tk 4.57 lakh in net profit in the quarter ended in September reversing from a net loss of Tk 9.14 lakh seen in the same period a year ago, said the company in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

The company’s earnings per share (EPS) stood at Tk 0.06 in the Jul-Sep’21 period in the ongoing fiscal year, which was Tk 0.12 in negative during the period.

Bangas net operating cash flow per share was Tk 0.90 for Jul-Sep '21 as against negative Tk 0.55 for the same period of the previous year. NAV per share was Tk 21.08 as on September 30, 2021 and Tk 21.02 as on June 30, 2021.

The company has been manufacturing 20 types of biscuits and cookies for more than three decades now, but its recent financial figures suggest it has lost its way in recent times.

Bangas exports its products to the United States, Europe, and the Middle East. The company was incorporated in 1979 and is based in Dhaka.

It was listed on the Dhaka Stock Exchange in 1984. Its market capitalisation stood at Tk 85 crore and has Tk 8 crore in surplus reserve.