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Quasem Industries Limited witnessed a 20 per cent fall in net profit in the third quarter (January-March) of the current fiscal year on a year-on-year basis.
The listed firm made a profit after tax of Tk 0.87 crore in Q3 of the fiscal year 2022-23, against the profit of Tk 1.09 crore in the same quarter last fiscal, as per a filing available on the DSE website.
The company’s earnings per share (EPS) dropped to Tk 0.12 for the January-March quarter of FY23 from Tk 0.15 for the same quarter last fiscal.
The company suffered a profit decline because its cash books got burnt due to the increase in cost of production and operational and financial expenses, higher payment to suppliers, and a severe volatility in the foreign currency exchange rates, as per the company’s latest financial report.
The listed company’s net operating cash flow per share (NOCFPS) was Tk 0.51 for the July-March period of FY23, against Tk 0.97 for the first nine months of the last fiscal.
