GPH Ispat’s profit falls 18pc to Tk 149.39cr

Business Desk :
GPH Ispat Ltd’s profit fell more than 18 per cent year-on-year to Tk 149.39 crore in the financial year that ended on June 30.
The steel manufacturer raked in Tk 182.59 crore in profit in 2020-21.
Thus, the company reported earnings per share of Tk 3.42 for 2021-22, which was Tk 4.18 in 2020-21.
The EPS decreased due to a significant increase in the exchange loss in foreign currency transactions, said GPH Ispat in a filing on the Dhaka Stock Exchange (DSE) on Monday.
“On the other hand, the price of all imported raw materials, international shipping, and freight charge increased due to dull economic conditions after the effect of Covid-19 and the Russia-Ukraine war.”
The net asset value per share slipped to Tk 28.79 in 2021-22 from Tk 29.86 in 2020-21, while the net operating cash flow per share widened to a negative Tk 7.15 from a negative Tk 4.05 during the period.
The net operating cash flow per share decreased because of an increase in cash payments to suppliers, operating expenses, administrative expenses, and selling and distribution expenses for the price hike in international and local markets, said the filing.