S Alam Steels earnings jumped by 500% in October-December
S Alam Group's concern S Alam Cold Rolled Steel's earnings per share (EPS) jumped year-on-year by 500% to Tk0.18 in the October-December quarter of FY2023.
At the end of the first half of this fiscal year, its EPS was Tk0.30, which was Tk0.21 a year ago.
But the company suffers from a net operating cash flow crisis due to decreased cash collection from the customers and increased payment to the suppliers.
Keep updated, follow The Business Standard's Google news channel
In the first half of the fiscal year 2022-23, its net operating cash flow per share was Tk24.44 negative.
Besides, its board of directors also decided to purchase land with a cost of Tk18.81 crore at Chattogram for the future expansion of the business.
Despite the stellar growth in earnings, its share price remained stuck on the floor price at Tk33.30 each at the Dhaka Stock Exchange.
