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ACI’s profit plummets by 42% in Q3

Staff Correspondent
03 May 2023 00:00:00 | Update: 02 May 2023 23:13:08
ACI’s profit plummets by 42% in Q3

ACI Limited witnessed a 42 per cent year-on-year fall in its net profit in the January-March quarter of the current fiscal year, as the company’s cash books were burnt due to the currency devaluation, hike in energy price, and higher import costs.

The company made a profit after tax of Tk 7.98 crore in the third quarter, against Tk 13.85 crore in the same quarter last fiscal, as per a filing available on the DSE website.

The company, however, reported revenue of Tk 2,851 crore in the January-March period this fiscal, which was Tk 2,354 crore in the same period last fiscal.

With this figure, the listed company’s revenue increased by 21 per cent year-on-year in Q3 of the current fiscal, but the company’s cost of production surged by 24 per cent YoY in the same period.

The company’s consolidated earnings per share (EPS) was Tk 0.33 for the January-March quarter of the fiscal 2022-23, against Tk 0.42 for the same quarter last fiscal.

Its consolidated net operating cash flow per share (NOCFPS) was negative Tk 72.25 for the July-March period of FY23, against negative Tk 20.27 for the first nine months of the last fiscal.

The company’s consolidated net asset value (NAV) per share was Tk 129.67 as on March 31, 2023 which was Tk 135.22 till June 30 last year.