High energy and import costs bite Coppertech Industries' profit
Coppertech Industries Limited has witnessed a 54% fall in profit in the first nine months of the current fiscal year.
The company said, higher import costs as a result of currency devaluation and increase in energy prices, besides increased financing costs, adversely affected its overall profitability.
According to its disclosure published on Dhaka Stock Exchange on Sunday, the company's earnings per share (EPS) stood at Tk0.69 during July-March of 2022-2023.
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At the same time in the previous fiscal year, its EPS was Tk1.49.
In the third quarter (January-March), its EPS fell by 31% to Tk0.47, which was Tk0.68 during the same time of the previous fiscal year.
Coppertech Industries was got listed on the stock exchanges in 2019.
In the last 2021-22 fiscal year, it paid a 4% cash dividend and a 4% stock dividend to its shareholders.
