Standard Ceramic suffers losses in Q2

Standard Ceramic Industries Ltd suffered a Tk 85.93 lakh loss in the second quarter of the ongoing financial year owing to the reduction in sales and gross profit.

This compared to the Tk 1.94 lakh profit the ceramics manufacturer made in the same October-December quarter in the previous financial year.

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Thus, the earnings per share stood at Tk 1.33 negative for October-December of 2022-23, down from a positive EPS of Tk 0.03 in the same period of 2021-22.

The loss widened to Tk 2.8 crore in July-December of the current financial year against Tk 1.49 crore in the similar half of FY22.

The net operating cash flow per share of the company was Tk 2.54 negative in July-December of FY23, which was Tk 0.36 negative in the same half of FY22.

The NOCFPS decreased as the collection (advance) against sales declined and suppliers and employee payments were slightly increased compared to the preceding period, said Standard Ceramic in a filing on the Dhaka Stock Exchange.  

The net asset value per share slipped to Tk 2.33 on December 31 from Tk 6.66 on June 30.

Standard Ceramic shares closed 0.72 per cent lower at Tk 110.10 on the DSE yesterday.