GPH Ispat posts losses in Oct-Dec quarter

Business Report :
The steel manufacturer incurred a loss of Tk 5.53 crore in the October-December quarter of 2022-23 whereas it raked in Tk 49.77 crore in the same three-month period in 2021-22.
Thus, GPH Ispat reported earnings per share (EPS) of Tk 0.12 negative for the second quarter of FY23 against Tk 1.08 in the same quarter of FY22, according to the unaudited financial statements.
GPH Ispat also incurred Tk 84.79 crore loss in the first half of the financial year, way down from a profit of Tk 94.93 crore in the July-December of FY22.
The EPS was Tk 1.84 in negative in the first half of FY23. It was Tk 2.06 in the same half of FY22.
The net asset value per share fell to Tk 24.95 on December 31, 2022, from Tk 28.79 on June 30, 2022.
The EPS and the NAVPS decreased due to a significant increase in the foreign currency conversion rate as well as the shortage of power supply. The power shortage disrupted production and adversely affected the cost of production, said GPH Ispat in a filing on the Dhaka Stock Exchange on Wednesady.