aamra technologies’ profit grows by 30%

International internet gateway service provider aamra technologies Limited registered a 30 per cent year-on-year rise in its net profit in the fiscal year 2021-22, thanks to slim operating costs, causing profit growth.

The company logged a net profit of Tk 10.86 crore in FY22 versus the profit of Tk 8.40 crore in the previous fiscal.

Company Secretary of aamra technologies, Syed Moniruzzaman told the Business Post, “We performed better than many other listed IT companies in FY22. With business expansion, we are hopeful of maintaining the growth in the current fiscal as well.”

“Our focus is to implement our business strategy that helped us ensure financial prudence even in many challenges,” said the firm’s Managing Director Syed Farhad Ahmed.

According to the company’s profile, it is a leading tech firm that mainly provides the banking sector with the most advanced and tech-savvy hardware, software, and connectivity solutions for nearly three decades.

The company’s earnings per share (EPS) stood at Tk 1.78 for FY22 against Tk 1.38 for the previous year.

According to a filing posted on the website of the Dhaka Stock Exchange (DSE) on Sunday, the company’s revenue surged in FY22 as its operating and financial costs lowered slightly, resulting in a considerable rise in earnings.

The company reported a net asset value (NAV) per share of Tk 24.09 and net operating cash flow per share (NOCFPS) of Tk 2.56 for the year ended in June this year versus Tk 22.79 and Tk 2 respectively for the previous year.

In the mid of July this year, the Bangladesh Telecommunication Regulatory Authority (BTRC) capped the bandwidth capacity of aamra technologies limited at 50 per cent as it had not paid the government’s revenue-sharing dues timely.

“The BTRC’s issue posed a temporary problem for us but it got resolved properly,” said Moniruzzaman.

The board of directors of aamra technologies recommended 6 per cent cash and a 6 per cent stock dividend for the year ending June 30, 2022.

The disbursal of the stock dividend, however, is subject to regulatory approval while the payment of the cash dividend is expected to get approval at the company’s upcoming annual general meeting.

The company is slated to hold its AGM on December 29 this year. It has fixed the record date as November 24 for the share splits. In FY21, the company paid a 10 per cent dividend (5 per cent stock and 5 per cent cash) to its shareholders.

Its sponsors and directors held a 30.01 per cent stake in the company’s board, while institutional investors own 32.66 per cent and general investors 37.33 per cent till September 2022.