S Alam Cold Rolled Steels profit drops 23% in Jan-Mar quarter
S Alam Cold Rolled Steels Limited's net profit dropped by 23% in the January- March quarter of the fiscal year 2022-23.
According to the company's unaudited financial statement filed on the stock exchanges, its earnings per share (EPS) stood at Tk0.31 during the corresponding quarter, which was Tk0.40 a year ago at the same time.
At the end of the first nine months of FY2023, its EPS stood at Tk0.60, which was 3% lower than the previous year over the corresponding period.
Besides, S Alam Cold Rolled suffered a severe net operating cash crisis as it reported the net operating cash flow per share was Tk43.45 negative during the July-March period of FY2023.
Keep updated, follow The Business Standard's Google news channel
The company said in its price-sensitive information statement that the decrease in the collection from the customers while the increase in payment to the suppliers during the period has resulted in a decrease in net operating cash flow per share as compared to the corresponding previous period.
Its share price has been stuck on the floor price at Tk33.30 each since October last year at the Dhaka Stock Exchange (DSE).
