BBS Cables' profit falls 84% for high production costs
The earnings of BBS Cables – the second-largest cable manufacturer in the country – declined by 84% in the third quarter (January to March) of the current fiscal year due to the high production costs.
From January to March quarter of 2023, the net profit of the company stood at Tk2.12 crore, which was Tk12.91 crore from one year ago.
Its earnings per share was Tk0.10, which was Tk0.61 compared to the previous year.
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From July to March quarter of 2023, its earnings per share was Tk0.34, which was Tk3.01 compared to the previous year.
And net asset value per share was Tk32.87 as of 31 March 2023.
The company said EPS has decreased due to an increase in the prices of raw materials and the devaluation of the Taka against foreign currencies.
