BATBC clocks Tk 1,324cr profit in Jan-Sep

British American Tobacco Bangladesh Company Ltd clocked Tk 1,324.08 crore in profit in January-September on the back of higher sales. 

It was up nearly 15 per cent from Tk 1,156.14 crore the multinational company raked in during the nine-month period a year earlier.

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Thus, the earnings per share (EPS) were Tk 24.52 for January-September, compared to Tk 21.41 in the same period a year ago, according to the unaudited financial statements.

Higher sales drove up the profits. 

Gross revenue rose 25 per cent to Tk 7,933 crore in July-September and 9 per cent to Tk 26,571 crore in January-September.

The cost of sales was up 49 per cent in the third quarter and 20 per cent in the nine-month period. The net finance expenses more than doubled to Tk 44.86 crore in January-September. 

The tobacco product manufacturer also posted a 40 per cent year-on-year growth in profit to Tk 409.86 crore in the July-September quarter. It was Tk 294.30 crore in the identical quarter a year prior.

The EPS was Tk 7.59 in July-September against Tk 5.45 in the same quarter of 2021.

"The EPS increased for higher profit after tax driven by growth in volume," said BATBC in a filing on the Dhaka Stock Exchange (DSE) yesterday.

The net operating cash flow per share rocketed to Tk 39.55 in January-September riding on higher cash collection from sales. It was Tk 1.20 during the same period in 2021.

The net asset value per share was Tk 77.65 on September 30 and Tk 68.13 on December 31.

BATBC's board of directors has declared a 100 per cent interim cash dividend based on the third-quarter financial statement, the filing added.

Shares of the company closed at Tk 518.70 on the DSE yesterday.