High cost of sales trims BATBC’s profit growth

Business Desk :
British American Tobacco Bangladesh Company Ltd (BATBC), the largest tobacco product maker in the country, witnessed a slowdown in its profit growth in the first nine months of 2023 mainly due to higher raw material prices and operating costs.

The company’s net profit grew 2.3 percent year-on-year to Tk 1,355 crore in the January-September period of this year.

In the same period last year, BATBC posted 14.5 percent year-on-year growth, according to its unaudited financial statement.

The company said its net revenue after deduction of supplementary duty and value added tax (VAT) rose 10 percent to Tk 6,792 crore in the nine months.