AFC Agro’s profit declines by 56% in Jul-Mar

AFC Agro Biotech, an agro-based bio-pharmaceuticals and bio-chemicals products producer, has reported a 56% fall in profit in the first nine months of the current fiscal year.

Its net profit after tax declined to Tk1.96 crore in the July to March quarter of 2022-23 fiscal, which was Tk4.45 crore during the same time of the previous fiscal year.

The earnings per share (EPS) stood at TK0.17, lower than Tk0.39 during the same time of the previous fiscal year.

According to its unaudited financial statement, the company's net turnover significantly declined by 42% to Tk36.61 crore, which was Tk63.34 crore in the July-March of 2021-22 fiscal.

In the third quarter, from January to March 2023, its net profit after tax declined to Tk11.53 lakh, which was Tk60.94 lakh.

While its net turnover in the third quarter declined to Tk8.32 crore, lowering from Tk13.65 crore in January to March of 2022.