Business Desk : dhakamirror.com
Heidelberg Cement Bangladesh Limited suffered losses in the third quarter of 2022. The multinational cement manufacturer incurred a loss of Tk 3.61 crore in the July-September quarter. It made a profit of Tk 10.79 crore during the same period a year earlier.
Thus, the earnings per share of the company were Tk 0.64 in negative in the third quarter of 2022, albeit down from a negative Tk 1.91 in the same quarter of 2021.
The EPS fell mainly for the higher cost of raw materials, an increase in freight cost, the depreciation of the local currency against the US dollar, and scheduled plant repairs and maintenance cost, said Heidelberg Cement in a filing on the Dhaka Stock Exchange (DSE) yesterday.
The EPS was also a negative Tk 4.27 in the January-September of 2022 whereas it was Tk 9.88 in positive in the identical period of 2021, showed the un-audited financial statements of the company.
Net operating cash flow per share (NOCFPS) was Tk 2.83 in January-September, way lower than Tk 22.57 a year earlier.
The NOCFPS decreased due to the lower sales and collection from customers and the increase in supplier payments for higher raw material prices compared to last year.
The net asset value per share was Tk 59.73 on September 30 and Tk 66.60 on December 31, driven mainly by the net loss.
Heidelberg Cement also incurred losses in the April-June period.
The EPS was Tk 0.66 in the negative in the second quarter against Tk 3.56 in the same period last year.
Shares of Heidelberg Cement were unchanged at Tk 179.10 on the DSE yesterday.
