Peninsula Chittagong suffers 37.5% profit drop

The Peninsula Chittagong Limited suffered a 37.5 per cent year-on-year fall in profit to Tk 59.33 lakh in the third quarter of the current financial year.

The profit of the company stood at Tk 94.93 lakh in the identical January-March quarter of 2021-22.

Tap Here to Add The Daily Star As A Trusted Source

Thus, the consolidated earnings per share declined to Tk 0.05 in January-March of 2023 from Tk 0.08 in the same period a year earlier.

In a posting on the Dhaka Stock Exchange, Peninsula said its EPS decreased due to an increase in the cost of sales, import rate, selling and distribution expenses and the decrease in non-operating incomes.

The hotel company suffered a loss of Tk 2.37 crore in July-March of FY23. This compared to the Tk 8.54 crore profit it clocked during the same nine-month period of FY22.

So, the company's consolidated EPS stood at Tk 0.20 negative in the first three quarters of 2022-23 against Tk 0.72 a year ago.

The consolidated net operating cash flow per share plummeted to Tk 0.22 negative in July-March from Tk 0.19 in the similar period in FY22.

The net operating cash flow per share decreased due to an increase in cash paid to suppliers and an increase in payments made for administrative, selling and distribution expenses, said the filing.

The consolidated net asset value per share was Tk 29.02 on March 31 and Tk 29.47 on June 30.

Shares of Peninsula Chittagong traded at Tk 27.40 on the DSE yesterday, unchanged from a day earlier.