Runner Auto sponsor to sell 1.20 lakh shares

Mohammad Ali Deen, a sponsor director of Runner Automobiles PLC, has expressed his intention to sell 1.20 lakh shares of his total holding of 25.20 lakh shares of the company.

According to a disclosure published on the stock exchanges website on Tuesday, Mohammad Ali Deen will sell his shares at the prevailing market price in the public or block market through the Dhaka Stock Exchange within the next 30 working days within 30 April 2024.

Runner Automobiles shares closed at Tk35.70 each on Tuesday. So, the market value regarding the current price is Tk42.84 lakh.

After tasting losses for the first time in FY23, Runner Automobiles, a local two and three-wheeler maker and assembler, returned to profit in the second quarter of FY24 with a 49% growth in revenue.

It said its revenue grew riding on an upbeat three-wheeler sale in the October to December quarter of the 2023-24 fiscal.

According to its unaudited consolidated financial statement, its revenue grew to Tk216 crore during the October-December period from Tk145 crore during the same time in the previous fiscal year.

The automobile maker registered a Tk64.57 lakh profit in the second quarter of FY24 in contrast to a Tk26.56 crore loss posted during Oct-Dec in the 2022-23 fiscal year.

The company's earnings per share (EPS) stood at Tk0.05 in the second quarter.

In its price-sensitive information (PSI), the engineering firm said its three-wheeler business witnessed a significant growth in revenues, resulting in positive EPS.

According to its half-yearly financial statement, its losses narrowed to Tk27.36 crore during the July-December period from Tk35.49 crore in the same period of the last fiscal year.