BD Lamps suffers loss of Tk 46.42 million in Q2

Bangladesh Lamps, widely known as BD Lamps, suffered a loss of Tk 46.42 million for the October-December quarter of 2023 due to a decrease in sales and an increase in the raw material purchase price.

The electric bulb producer incurred a loss of Tk 4.63 per share in the October-December quarter of 2023, as against a profit of Tk 1.63 per share in the same quarter a year earlier, according to a stock exchange filing on Monday.

"EPS has decreased due to a decrease in sales revenue and an increase in material costs and finance costs,” said the filing.

The company’s half-yearly losses also increased to Tk 112 million in July–December 2023, as against a profit of Tk 32.88 million in the same period a year earlier.

Its net operating cash flow per share was negative Tk 11.26 for July–December of 2023 as against negative Tk 1.47 (restated) for July-December of 2022. Its net asset value per share was Tk 70.46 as of December 31, 2023, and Tk 83.78 (restated) as of December 31, 2022.

The company said cash flow has decreased due to a decrease in sales and collections, a substantial increase in inventory, and a lower gross margin.

And net asset value per share also decreased mainly due to increase in short term finance.

Following the news, its stock price plunged 8.73 per cent to Tk 210.1 at DSE after three hours of trading. Its stock also shed 8.72 per cent in the previous day after lifting the floor price.

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