Quarterly loss brings down Bangladesh Lamps shares by 6.35%

Bangladesh Lamps shares price dropped by 6.35% on Wednesday's trading session at the Dhaka Stock Exchange (DSE) as it incurred loss in the January-March quarter this year.

At the end of the first three hours trading session, its share price lost Tk17 to Tk252.20 at the DSE.

On the day, the Philips brand light producer reported that it incurred a loss of Tk2.21 crore and earnings per share was Tk2.21 negative.

Due to the loss, its total profit fell year-on-year by 81% to Tk1.07 crore in the first three-quarters of FY2023.

The company said in its financial statement, profit has decreased due to a decrease in sales revenue, and an increase in the raw material purchase price, operating costs and finance costs.