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The losses of HeidelbergCement Bangladesh Limited have increased 4 times in the third quarter (July-September) of the current year, compared to the same period of the previous year.
However, the publicly traded company returned to profit if all the past nine months are taken into account.
The company held a board meeting on Monday and subsequently disclosed the outcomes on its website in the evening.
The company has reported a loss of Tk 10.78 crore for the July-September period, up by 3.96 times from Tk 2.72 crore losses of the previous year’s corresponding period, according to the disclosure.
The cement company made a profit of Tk 55.85 crore in the past nine months, when it reported a loss of Tk 17 crore in the same period of the previous year.
In the third quarter, it posted Tk 1.91 loss per share, against Tk 0.48 loss per share of the previous year’s same period.
The company’s net asset value (NAV) per share stood at Tk 76.04 on September 30, stated the disclosure.
In June 2020, HeidelbergCement was relegated to the ‘Z’ category from ‘A’ category as the company recommended no dividend for 2019.
The company, for the first time since its enlistment in the Dhaka Stock Exchange in 1989, declared no dividend for 2019 as it suffered a loss of Tk 18.64 crore in the year.
HeidelbergCement Bangladesh Limited is a sister concern of Germany-based multinational company Heidelberg Cement.
The principal activity of the company is manufacturing and marketing of gray cement under the brand names of “Ruby Cement” and “Scan Cement”.
