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Monno Ceramic Industries’ first quarter (Q1) profit surged 214 per cent year-on-year to Tk 9.34 million in the July-September period this year, driven by higher sales.
The company’s earnings per share stood at Tk 0.25 for the September quarter this year, up from Tk 0.08 in the same quarter in the year before, according to price-sensitive information published on Monday.
The profit increased primarily due to strong revenue growth and better operational efficiency, despite a rise in finance costs due to increased interest rates, said the company in its earnings note.
The tableware manufacturer’s sales revenue surged 64 per cent year-on-year to Tk 107 million in July-September this year, from Tk 65 million in the same quarter last year.
Although finance costs increased to Tk 26.5 million from Tk 15.7 million, the substantial growth in revenue and operational efficiency outweighed the impact of higher finance expenses, resulting in a higher net profit, said the company.
“Overall, the increase reflects the company’s robust performance, effective business strategies, and positive market response during the quarter,” the company stated.