The loss was due to decline in auction price
National Tea Company Limited has reported a loss per share at Tk35.21 for the first nine months (July-March) of FY20, which was Tk9.69 in earnings per share during the same period of the previous year.
During the period, the company's earnings per share (EPS) fell by 172% compared to the same period of the previous year, according to an official disclosure posted by the company on Dhaka Stock Exchange (DSE) website on Sunday.
The loss was due to decline in auction price. However, the company is trying to minimize this risk of price fluctuation, company officials have said.
On the other hand, the state-owned company's per share loss wasTk41.83 for three months (Janu--March'20) as against negative Tk17.86 for the same period last year.
The company’s net asset value (NAV) per share was Tk 137.25 on March 31, 2020.
The company disbursed 22% cash dividend for the year ending on June 30, 2019. It also disbursed a 22% cash dividend for the previous year.
National Tea Company was formed in 1978. It is a Joint venture of the government and the general public. The Company started with 9(nine) “A”-class tea estates all of which are situated in the Sylhet division. The tea estates are: Patrakhola, Kurmah, Champarai, Madanmohanpur, Madabpur, Jagadishpur, Teliapara, Chundeecherra and Lackatoorah.
The company’s paid-up capital is Tk6.6 crore. A share of the company closed at Tk451.60 on Sunday. The tea company was listed on the Dhaka Stock Exchange in 1979. The food sector company belongs to “A” category.