Bashundhara Paper sees Tk 31cr loss in Jul-Sep

Business Report :

Bashundhara Paper Mills, a concern of the Bangladeshi conglomerate Bashundhara Group, which manufactures paper and diversified tissue products, reported a loss of Tk31 crore in the July-September quarter of the current fiscal year.
According to the company’s price-sensitive statement, its loss per share stood at Tk1.80 during the quarter.
The company’s revenue dropped by 21.59per cent to Tk267 crore in the first quarter of FY25 compared to the same period last year. Increased finance costs due to higher interest rates and a significant debt burden contributed to the loss, as per the unaudited financial statement.
The report further highlighted an 85per cent increase in interest expenses, which rose to Tk61.77 crore during the quarter, compared to the same period last year.
Bashundhara Paper said in its report that rising utility costs, exchange rate fluctuations, a hike in raw material prices, and increased borrowing interest rates collectively led to the loss.
The company’s share price closed at Tk32.10 on Thursday at the Dhaka Stock Exchange.
Meanwhile, Bashundhara Paper’s sister concern, Meghna Cement, also reported a loss of Tk10.39 crore in the first quarter of this fiscal year.
During the quarter, Meghna Cement’s revenue declined by 48per cent to Tk16.56 crore, compared to the same period last year.