Confidence Cement's profit drops 29%

Confidence Cement Limited, a concern of the Chottagram-based Confidence Group, reported a 29.59% year-on-year profit decline for the January to March quarter of the current fiscal year owing to foreign exchange loss, an increase in bank interest and charges.

From January to March quarter, the consolidated net profit of the company stood at Tk14.36 crore, which was Tk20.39 crore in the same period of the previous year.

Its consolidated revenue increased by 2% to Tk137.27 crore from Tk134.14 crore compared to a year ago.

From January to March quarter, its consolidated earnings per share was Tk1.84, which was Tk2.61 one year ago. 

Its consolidated net asset value per share was Tk78.09 at end of the March, while its net operating cash flow per share stood at Tk4.33 negative.

Established in 1991, Confidence Cement Limited went into commercial operation in 1994. It was listed on both stock exchanges in 1995.

The trading share price of the company was Tk89 on the Dhaka stock exchange till 10.34 am.