Standard Ceramic’s loss mounts in H1 FY23

Standard Ceramic Industries, a listed ceramics maker, reported a net loss of Tk 2.79 crore in the July-December period of the current fiscal year.

With this figure, the company registered the highest first half-yearly loss since the fiscal year 2020-21.

The company had incurred a net loss of Tk 1.48 crore in H1 of the fiscal year 2021-22, which was Tk 0.97 crore in the same period of the previous fiscal.

The ceramics maker in July 2022 had announced to lend Tk 15 crore worth of loans from banks to overcome its working capital crisis.

Following the declaration, the company’s share prices started to hike and reached Tk 166 per share at the end of September last year from Tk 130 before the declaration in July same year.

But after July 2022, the company did not make public any updates concerning its bank loans.

As a result, its shares started to fall, which stood at Tk 110 per share on Sunday.

The company’s loss per share rose to Tk 1.33 for the October-December quarter of FY23 from Tk 0.03 for the same period last fiscal.