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Most of the listed IT companies saw their earnings rise in the first quarter (Q1) of the current financial year (FY), 2018-19, compared to the same period of the previous fiscal year.
People familiar with the IT industry attributed the companies' higher earnings to controlled expenditure in the July-September period.
Of the eight IT firms listed with the Dhaka Stock Exchange (DSE), six companies posted healthy earnings per share (EPS) while the remaining two companies saw their EPS decline marginally.
The EPS is the portion of a company's profit allocated to each outstanding share of common stock, meaning it is an indicator of the company's profitability.
According to un-audited financial statements for the July-September quarter, FY 2018-19, the EPS of IT Consultants, BDCOM Online, Agni Systems, Aamra Technologies rose up to 53 per cent, compared to the same period of last fiscal year.
The earnings of two companies -- Intech Ltd and Information Services Network -- turned positive in the first quarter of FY 2019 after remaining in the negative zone in the same quarter of FY 2018.
The EPS of Intech stood at Tk 0.85 for the Q1 of FY 2019 as against negative Tk 0.09 for the same period of FY 2018.
"Due to cost control and increase of revenue, the earnings per share changed significantly," the company said in a statement.
Recently, Intech signed an 'Exclusive Commercial Agreement' with Minfy Technologies Private Ltd. of India to provide Amazon web services in Bangladesh.
The Intech will provide Amazon web services on exclusive basis in collaboration with the Minfy Technologies.
The EPS of Information Services Networks stood at Tk 0.10 for the July-September period of FY 2019 as against negative Tk 0.21 for the same period of FY 2018.
The IT Consultants saw its EPS jump to Tk 0.29 for the first quarter of FY 2019 as against Tk 0.19 for the same period of FY 2018, registering an increase of 53 per cent.
The net operating cash flow per share (NOCFPS) was Tk 0.41 for the first quarter of FY 2019 as against negative Tk 0.62 for the same period of FY 2018.
The EPS of BDCOM also surged 31 per cent to Tk 0.35 for the first quarter of FY 2019 as against Tk 0.24 for the same period of FY 2018.
The EPS of Agni Systems stood at Tk 0.31 for the July-September period of FY 2019 as against Tk 0.26 for the same period of FY 2018, registering an increase of 19 per cent.
The EPS of Amra Technologies rose 9.30 per cent to Tk 0.47 for the first quarter of FY 2019 as against Tk 0.43 for the same period of FY 2018.
Meanwhile, Daffodil Computer saw its EPS fall to Tk 0.41 for the July-September period of FY 2019 as against Tk 0.62 for the same period of FY 2018, registering a decline of 34 per cent.
The EPS of Aamra Networks also fell 9.32 per cent to Tk 1.07 for the first quarter of FY 2019 as against Tk 1.18 for the same period of FY 2018.