Linde’s sales, profit drop as pandemic eases
The sales and profit of Linde Bangladesh Limited, an industrial and medical gas producer has declined as the Covid-19 pandemic situation in the country continues to improve.
In the July-September period Linda has registered a 9% decrease in sales and 20.64% decrease in profit compared to the same period of the previous year, after the government lifted a countrywide lockdown on 10 August imposed to curb Covid-19 infection.
The listed multinational oxygen supplier company witnessed a massive rise sales and profits in the first half of 2021 as the demand for oxygen rose along with the spread of Covid-19 infections in the country.
Keep updated, follow The Business Standard's Google news channel
To meet the rising demand, the company imported oxygen from India, according to a Linde Bangladesh official.
"But sales started to decline as the pandemic situation started improved. As a result, profits also declined compared to the previous year. But overall, in the nine months, the sales and profit increased," he added.
In the third quarter (Jul-Sep) of 2021, Linde's sales declined to Tk122.74 crore from Tk135.23 crore in the previous year.
The profit stood at Tk27.37 crore, which was Tk34.49 crore in the July-March of 2020.
Earlier, in the first nine months of 2021, Linde Bangladesh recorded an 11.69% growth in sales and 24% growth in profit compared to the previous year.
In the January to September period, its sales stood at Tk375.32 crore and profit Tk90.41 crore, which was Tk336.02 and Tk72.77 crore respectively in the same time of the previous year.
The company was listed with the Dhaka Stock Exchange (DSE) in 1976. The paid-up capital of the company is currently Tk15.21 crore.
Earlier, Linde Bangladesh paid a 400% cash dividend to its shareholders for the year ended on December 31, 2020.
On Thursday at the Dhaka Stock Exchange (DSE), the company's share price decreased by 0.48% to Tk1528.40 each from Tk1535.80 each on 21 October.
Out of the total shares, sponsors and directors owned 60% till September this year, while the institutional and general investors held 28.90% and 11.10 % respectively.
