Oimex Electrode suffers Tk 1.61 crore loss in Q2

Oimex Electrode Limited suffered a loss of Tk 1.61 crore in the second quarter of the current financial year.

This compared to the Tk 2.75 crore losses the manufacturer and distributor of welding consumables, nails and galvanised wires incurred in the October-December quarter of the previous year of 2021-22.

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Thus, the company reported earnings per share of Tk 0.24 negative for October-December of 2022-23 against Tk 0.41 negative a year ago.

This took the company's loss in the first half of FY23 to Tk 3.56 crore, down from a loss of Tk 5.17 crore in the July-December of FY22.

The net operating cash flow per share stood at a negative of Tk 0.37 in July-December of FY23. It was Tk 0.53 in negative during the same half in FY22. The company's net asset value per share fell to Tk 11.19 on December 31 from Tk 11.72 on June 30.

Shares of Oimex were down 0.61 per cent to Tk 16.30 on the Dhaka Stock Exchange yesterday.