Linde BD profits down 32% in quarter ended June
Revenues also declined 8% to Tk115.41 crore
Linde Bangladesh Ltd - a leading medical and industrial gas producer in the country - reported a 32% year-on-year slump in net profits for the April to June quarter of 2022.
During the period, its net profit stood at Tk23.28 crore, which was Tk34.30 crore in the same quarter of 2021.
Its revenues also decreased 8% to Tk115.41 crore, from Tk125.38 crore in the same period the previous year.
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In the quarter, its cost of sales stood at Tk75.98 crore, 7% higher than in the same period of 2021.
Its earnings per share stood at Tk15.30, which was Tk22.54 a year ago.
In the first half, i.e. from January to June of 2022, Linde BD's revenue stood at Tk251.80 crore and net profit was Tk53.19 crore.
Its share price declined 2% to Tk1,372.1 per share on Thursday at the Dhaka Stock Exchange (DSE) compared to the previous session.
Last year, Linde Bangladesh posted 8% and 14% increases in revenue and profit respectively because of the huge demand for oxygen due to the significant surge in Covid-19 cases.
For the year ending 31 December 2021, the company announced 550% cash dividends – the highest in seven years.
Linde Bangladesh was listed on the DSE in 1976 under the fuel and power sector when the stock market resumed trading after independence.
The company's paid-up capital is Tk15.21 crore.
As of 30 June this year, sponsors and directors owned 60% stock of company stock, institutional investors 27.9%, and general investors held 12.10% shares of the company.
