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Bangladesh Monospool Paper Manufacturing Co. Ltd and Sonali Paper & Board Mills Ltd’s third-quarter earnings jumped more than 150 times thanks to strong sales of their products after the pandemic.
The two companies were brought back to the Dhaka Stock Exchange’s main board from the over-the-counter market (OTC).
Monospool Paper’s earnings per share (EPS) reached Tk 3.04 in the third quarter (Q3) of FY22, a significant increase of 1500 per cent from Tk 0.19 a year earlier, said the company in a regulatory filing.
Its gross sales stood at Tk 22 crore, up from Tk 7.2 crore and net profit increased to Tk 1.4 crore from Tk 9 lakh during the period, according to its latest annual report.
Sonali Paper & Board Mills’ EPS stood at Tk 1.57, a hefty rise of 1470 per cent up from Tk 0.10 during the period.
Its gross sales hit Tk 61 crore, 52 per cent up from Tk 40 crore and net profit increased to Tk 6.68 crore from Tk 41 lakh during the period, according to its latest annual report.
“Business was bad during the pandemic. It is now turning around,” Monospool Paper Manufacturing Company Secretary Mustafizur Rahman told The Business Post.
On Monday, Monospool Paper’s share price fell 3.20 per cent while Sonali Paper’s share price was down 4.90 per cent on the Dhaka Stock Exchange.
The two are among 41 companies that shifted to the OTC market after the Bangladesh Securities and Exchange Commission abolished the OTC platform last year aiming to improve the financial health of the companies.
The companies are also among the six companies currently traded under the paper and printing category of the DSE.
Under the category, Bashundhara Paper Mills Limited reported EPS of Tk 0.45, slightly up from Tk 0.0.42 during the period.
Paper Processing & Packaging reported EPS of Tk 0.61, slightly up from Tk 0.40 during the period.
Other three companies—Hakkani Pulp & Paper Mills and Khulna Printing & Packaging—reported falls in their earnings in the third quarter.
