Apex Foods posts Tk 1.25 crore profit in July-Sep

Apex Foods Ltd reported a slight decline in profit in the July-September period, which is the company's first quarter of financial year. 

The company's profit fell 2 percent year-on-year to Tk 1.25 crore in the Q1. 

As a result, earnings per share (EPS) declined to Tk 2.20 from Tk 2.25 in the same period last year, as per a Dhaka Stock Exchange disclosure.

Despite opening at Tk 215.5, Apex Foods' stock dipped 3.94 percent to Tk 207 by 1:48 pm today. 

The company's net operating cash flow per share (NOCFPS) also improved, at Tk 12.19 in the negative, compared to Tk 31.28 in the negative in the same period last year. 

Apex Foods attributed a higher revenue collection and lower bank charges to the NOCFPS rise. 

Meanwhile, the company noted a slight decline in net asset value per share, driven by a shift in the market value of investments.