Bashundhara Paper's profit falls 20% in Jul-Mar for higher borrowing cost
The company logged Tk31.51 crore profit during the July-March period of the fiscal year 2023-24, which was Tk39.25 crore in the same time of the previous fiscal year.
Bashundhara Paper Mills, a manufacturer of paper and paper allied materials like tissue and hygienic products, has reported a 20% fall in profit in the first nine months of the current fiscal year.
The company logged Tk31.51 crore profit during the July-March period of the fiscal year 2023-24, which was Tk39.25 crore in the same time of the previous fiscal year.
Regarding the decline in profit, the company said the management of the company had taken a responsive business strategy and as a result sales increased by 4.01%. But increase in the interest rate of borrowings resulted in a decrease in profit.
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During the period, its revenue grew to Tk1,048 crore, up from Tk1,007 crore in the first nine months of FY23.
