Linde Bangladesh posts revenue, profit growths in March quarter
The company’s income tax expenses declined by 8% to Tk9.2 crore in the first quarter of this year
Linde Bangladesh, a leading medical and industrial gas producer in the country, posted modest year-on-year growths in its revenue and profit for the January-March quarter of 2022.
The company's revenue increased by 7% to Tk136.39 crore and profit by 4% to Tk29.90 crore in the first quarter of the ongoing year compared to the same quarter a year ago.
During the period, its income tax expenses declined by 8% to Tk9.2 crore from Tk10.07 crore in the first quarter of 2021, thanks to a corporate tax cut in the current year.
When contacted, the company's officials declined to comment on its quarterly financials.
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Its share price increased 1.09% to Tk1,469.20 per share on Thursday at the Dhaka Stock Exchange (DSE) compared to the previous session.
Last year, Linde Bangladesh posted 8% and 14% jumps in revenue and profit respectively because of the huge demand for oxygen resulting from the significant surge in Covid-19 cases.
For the year that ended on 31 December 2021, the company announced 550% cash dividend – the highest in seven years.
Linde Bangladesh was listed on the DSE in 1976 under the fuel and power sector when the stock market resumed trading after independence.
The company's paid-up capital is Tk15.21 crore.
As of March this year, sponsors and directors owned 60%, institutional investors 27.8%, foreign investors 0.6%, and general investors held 11.10% shares of the company.
