Shepherd Industries’ H1 profit plummets by 34%

The global economic headwinds ate up the profits of Shepherd Industries Limited, as the publicly traded company’s net profit plunged by 34 per cent year-on-year in the July-December period of the current fiscal year.

The company posted Tk 6.16 crore in net profit in the first half of the fiscal year 2022-23 against the profit of Tk 9.39 crore in the same period last year.

The company blamed the staggeringly inflated production cost for the profit fall in H1 of FY23.

“During the time, all sorts of expenses, including labour costs, import costs, shipping costs surged many times, ultimately shrinking our profits,” said Maruf Bin Wali, company secretary of Shepherd Industries.

Shepherd Industries got listed on the capital market in 2017.

Currently, directors and sponsors hold a 51.48 per cent stake in the company, while institutions own 23.20 per cent, foreign investors 9.49 per cent, and general investors 15.83 per cent.

It paid a 10 per cent cash dividend to its shareholders for the fiscal 2021–2022.