Khulna Paper losses mounting
Its net loss increased to Tk21.86 crore during the July-December period
Khulna Paper and Printing Ltd – a manufacturer of high-quality packaging items and cartons – has posted a huge loss in the first six months of the current fiscal year.
Its net loss increased to Tk21.86 crore during the July-December period.
The company had incurred a loss of Tk44.70 crore in the 2020-21 fiscal year when the coronavirus pandemic hampered its production and sales.
Up to June 2021, its retained earnings were negative at Tk64 crore.
According to the company, its production remains temporarily suspended since October last year for an unspecified time as the High Court has frozen its bank accounts.
According to its financials, in the first six months of the current fiscal, the revenue of the company stood at Tk14.27 lakh, which was Tk26.42 crore a year ago.
In the October-December quarter, the company did not earn any revenue as its production is suspended and instead it incurred a loss of Tk14.32 crore to meet the fixed and other costs.
The company, which got listed on the capital market in 2014, did not pay any dividend to its shareholders in FY21.
