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ACI’s H1 earnings plunges by 70%

Staff Correspondent
01 Feb 2023 00:02:45 | Update: 01 Feb 2023 00:19:52
ACI’s H1 earnings plunges by 70%

ACI Limited registered a 70.6 per cent year-on-year slump in net profit in the July-December half of the fiscal year 2022-23.

The company reported a net profit of Tk 17.93 crore in H1 of the current fiscal year which was Tk 60.9 crore in the corresponding period last fiscal.

The staggering surge in production cost due mainly to currency exchange volatility, energy price hike, and high import costs, coupled with the inflated financing costs depleted the conglomerate’s overall profitability, according to its H1 financial report.

Meanwhile, the company reported a loss per share of Tk 1.79 for the first half of FY23 against earnings per share (EPS) of Tk 5.25 for the same period last fiscal.

The company’s consolidated net operating cash flow per share (NOCFPS) stood at Tk 80.36 for the July-December period of FY23 against Tk 5.34 for H1 of FY22.

Meanwhile, its consolidated net asset value (NAV) per share stood Tk 128.29 as on December 2022 which was Tk 135.22 till June 2022.

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