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Motorcycle manufacturer Runner Automobiles secured a huge recovery in FY24 from last year's heavy loss as the sales of three wheelers picked up.
It is, however, still in the red.
Runner made a loss of Tk 61 million in the year through June this year, down from a loss of Tk 880 million a year ago.
It reported a loss for the first time in FY23 since its listing in FY19, as two-wheeler and three-wheeler sales went down.
In FY24, the company managed to cover fixed costs with the revenue earned but could not return to the green territory.
The consolidated loss per share was Tk 0.54 for FY24, down from Tk 7.75 a year ago.
The thriving business of three wheelers supported an increase in revenue, said the company. So, the profitability improved to some extent.
The company also declared 11 per cent cash dividends for general shareholders and 1 per cent cash dividends for sponsors and directors for FY24.
No dividend was paid for FY23.
Following the earnings disclosure on Sunday, the stock rose 8.44 per cent to Tk 25.70 per share on the Dhaka Stock Exchange.
Runner Automobiles engages in manufacturing and distributing motorcycles. It functions as the flagship company of Runner Group and the appointee of BAJAJ Autos Ltd. to carry out its activities in Bangladesh.
The company's cash flow declined despite the improvement in revenue.
The net operating cash flow per share, which shows a company's ability to generate cash from operations, fell to Tk 21.70 per share in FY24 from Tk 38.32 the year before.
"Requirement for [higher] upfront repayment to the banks and suppliers compared to previous year resulted in significant de-growth in NOCFPS," said the company in its financial statement.
The company scheduled the annual general meeting for December 23 and the record date for the entitlement of dividends is November 17.