Deshbandhu Polymer’s profit climbs 25%

Deshbandhu Polymer Limited posted a 25.5 percent year-on-year increase in profit in the last financial year.

The PP woven bag and liner manufacturer clocked a profit of Tk 3.63 crore in 2022-23, up from Tk 2.88 crore in 2021-22. Thus, earnings per share rose to Tk 0.59 from Tk 0.47, according to the financial statements.

The net asset value per share increased to Tk 19.20 from Tk 18.93 while the net operating cash flow per share saw an improvement to Tk 0.91 from Tk 0.74.

The board of the company recommended a 2.5 percent cash dividend for the year that ended on June 30, according to a filing on the Dhaka Stock Exchange.

Shares of Deshbandhu Polymer surged 18.34 percent to Tk 27.10 yesterday.

The company's products are used in packing sugar, fertiliser, cement, food grain, flour, chemical, cattle feed, fish feed and rice.