Lower sales, high cost of raw materials halves Linde Bangladesh's profit in Jan-Mar 2023
Linde Bangladesh Limited – a leading medical and industrial gas producer in the country – has experienced a decline in profits owing to a rising cost of raw materials and lower sales in the first three months of 2023.
From January to March, the company reported a 53% fall in profit compared to the same time of the previous year (2022).
The net profit of Linde Bangladesh declined to Tk14.02 crore, lower from Tk29.90 in January to March of 2022.
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The earnings per share (EPS) declined to Tk9.22, which was Tk19.22 during the same time of the previous year.
Earlier, Linde Bangladesh (BD) saw a 28% year-on-year decline in its annual profit for 2022, owing to high production costs and the appreciation of the dollar against the taka.
In 2022, Its net profit stood at Tk88.33 crore, down from Tk122.58 crore in the previous year.
In the tough year of a slump in construction and industrial production, the company's earnings per share dropped to Tk58.04 from Tk80.55 in 2021.
But despite a profit decline, the company recommended a 420% cash dividend for 2022 for the shareholders.
