Most listed IT firms’ earnings shine in Q3

Most listed IT companies reported healthy earnings in the third quarter of FY 2022 thanks to reducing operating costs and government support during the pandemic.

Out of 11 companies listed on the Dhaka Stock Exchange, six posted higher earnings, four logged negative earnings and one is yet to disclose its earnings.

Information Services Network Limited registered the highest earnings per share (EPS) for January-March (Q3) of FY2022. Its EPS stood at Tk 0.17 for the quarter, a jump of 1600 per cent or 16 times from Tk 0.01 in the same period a year ago.

Its net asset value (NAV) per share was Tk 2.29 as of March 31, 2022, and Tk 2.47 as of 30 June 2021.

Aamra Technologies Limited came second posting a 63 per cent growth in earnings. Its EPS stood at Tk 0.36 against Tk 0.22 during the period.

During the pandemic, the government gave various incentives to the IT companies, which helped boost the earnings of several companies, according to people familiar with the IT business.

“In addition, operating expenses were reduced during the pandemic, leaving a positive impact on EPS,” said Aamra Technologies Company Secretary Syed Moniruzzaman.

During the period, Aamra Technologies’ net operating cash flow per share ( NOCFPS) increased by 38 per cent to Tk 4.20 from July 2021 through March 2022 as against Tk 3.05 from July 2020 through March 2021.

During the period, the cash received from customers was significantly higher than the same period of the previous year which has impacted the NOCFPS positively, said Moniruzzaman.

IT Consultants Limited came third and its EPS stood at Tk 0.54, up 42.10 per cent from Tk 0.38 during the period.

BDCOM Online Limited’s EPS stood at Tk 0.38, up 35.10 per cent from Tk 0.28 during the period. Daffodil Computers and eGeneration Limited also witnessed positive growth in EPS during the quarter.

On the flip side, ADN Telecom Limited, Agni Systems, Aamra Networks Limited, and Genex Infosys Limited suffered negative earnings during the period. Intech Limited failed to publish its report on time.