Sonali Aansh net profit drops 83% in Jan- Mar
Sonali Aansh Industries Ltd, a renowned manufacturer of jute-based products, has experienced a significant decline in net profit during the January to March quarter of the fiscal year 2022-23.
The company's profits have dropped by a staggering 83% compared to the same period in the previous fiscal year. This decline can be attributed to a decrease in exports.
During this quarter, Sonali Aansh Industries recorded earnings per share of Tk0.30, a significant decrease from Tk1.78 during the corresponding period in the previous fiscal year.
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Furthermore, when considering the period from July to March of FY23, the company's earnings per share stood at Tk1.32, down from Tk3.05 during the same period a year ago.
As of the end of March 2023, Sonali Aansh Industries reported a net asset value per share of Tk115.61. The company was listed on the stock exchange in 1985, with the ownership initially held by the Beximco Group. However, the business conglomerate later decided to exit the company's board.
In the previous fiscal year, FY22, Sonali Aansh Industries recommended a 100% stock dividend for its shareholders. Despite this, the company's share price experienced a decline of 3.18% on the Dhaka stock exchange, reaching Tk438.20 on Tuesday (6 June).
