Pran’s two concerns post quarterly revenue growth
In the January-March quarter, the revenue of AMCL and RFL rose by 17% and 12% respectively
Two sister concerns of Pran-RFL Group – Agricultural Marketing Company Ltd (AMCL) and Rangpur Foundry Ltd (RFL) – have reported a growth in revenue in the third quarter of the current fiscal year.
The revenue of AMCL-Pran, which produces various food items such as juices, mineral water, soft drinks, ice pops, and mango bars, rose by 17% to Tk80.64 crore.
In the January-March quarter, the net profit has increased by 15% to Tk1.55 crore, and the earnings per share stood at Tk1.94.
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In the first three quarters of this fiscal year, the revenue surged by 9% to Tk220.23 crore and the net profit grew by 2% to Tk4.77 crore.
At the end of March 2021, the earnings per share stood at Tk5.96.
A senior official of the company, seeking anonymity, said despite the coronavirus pandemic shock, the company could manage good business growth thanks to an uninterrupted production and supply chain. Its exports grew during this period as well.
Currently, the business is not going well due to a surge in Covid-19 infections. However, the company is trying its best to ensure business profitability in the tough time, he added.
On Thursday, AMCL-Pran's share price rose by 0.11% to Tk189.40 each at the Dhaka Stock Exchange (DSE).
The company paid a 32% cash dividend to its shareholders for last fiscal year, despite a 22% drop in the net profit due to the pandemic.
Meanwhile, RFL, which manufactures tube-wells and irrigation pumps, posted a 12% growth in revenue to Tk28.51 crore in the third quarter. Its net profit also increased by 43% to Tk0.86 crore and the earnings per share stood at Tk0.87.
Its share price stuck on floor price at Tk119.30 for more than one month at the DSE. It paid a 23% cash dividend to the shareholders for the last fiscal year.
