Eastern Lubricants shares soar with quarterly earnings growth
State-owned Eastern Lubricants Blenders shares price jumped over 6% and became a top gainer on Monday at the Dhaka Stock Exchange (DSE) as the company declared five folds higher growth in the second quarter of FY2023.
On the day, its shares traded at Tk1,575.60 each, which was Tk92.60 higher than the previous session.
Market insiders said buyers were interested to buy the shares but sellers held their holdings throughout the day.
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In the second quarter of FY2023, it reported a revenue growth of 2,167% to Tk13.36 crore compared to the previous year at the same time.
The net profit was Tk0.74 crore, which was Tk0.12 crore a year ago.
At the end of the first half of the fiscal year 2022-23, its revenue and net profit stood at Tk13.88 crore and 0.77 crore respectively. During the period, the earnings per share stood at Tk6.51, which was Tk2.96 a year ago.
Earlier, it declared a 40% cash dividend and a 10% stock dividend to its shareholders for the last fiscal year.
