Sunday, June 16, 2024

Section

বাংলা
Dhaka Tribune

BAT Bangladesh posts modest quarterly earnings

During the third quarter, the company made a profit of Tk406 crore or an earning of Tk7.52 per share

Update : 26 Oct 2023, 08:14 PM

Cigarette manufacturer, British American Tobacco (BAT) Bangladesh has reported steady earnings for the July-September quarter defying rising input costs from inflation.

During the third quarter, the company made a profit of Tk406 crore or an earning of Tk7.52 per share, which is a percent lower than the earnings in the same quarter last year.

Financial results were published on the company website on Thursday.

According to the statements, BAT Bangladesh sold 1,318 crore cigarette sticks during the quarter, which is 1.65 percent lower in comparison with the third quarter of the previous year.

However, on a nine-month comparison, sticks sold increased 7.6 percent in 2023 when compared with the same period last year.

The directors board of the company has also approved an investment of Tk33.21 crore for a rooftop solar panel (3.2 MW) and a stem pre-sizer unit along with relevant infrastructure in the company’s Fibex plant, according to a company filing with the stock exchanges.

Internal sources and bank financing based on the cash flow of the company will be funding the investment, added the statement.

The current stock price of BAT Bangladesh is stuck at its regulatory directed floor price of Tk518.7 per share.

Currently, the sponsors and directors of the company hold 72.91% of its shares, while the government 0.64%, institutional investors 13%, foreign 6.07% and general investors 7.38%.

BAT Bangladesh was listed with the Dhaka bourse in the year 1977 and with the Chittagong bourse in 1996. 

Top Brokers

About

Popular Links

x