Monno Ceramic’s Q1 profit jumps 18 times for lower expenses, deferred tax

Monno Ceramic Industries Ltd registered a 1,760 percent year-on-year profit growth to Tk 2.79 crore in the first quarter of the financial year 2023-24.

The company clocked a profit of Tk 15 lakh in the identical July-September quarter of 2022-23, it said in a disclosure on the Dhaka Stock Exchange today.

Therefore, Monno Ceramic Industries reported consolidated earnings per share of Tk 0.74 for July-September in FY24 against Tk 0.04 in the same quarter of FY23.

"The EPS increased due to the reduction of the operational expenses and adjustment of deferred tax," said the filing.

The net asset value per share rose to Tk 81.04 on September 30 this year from Tk 80.29 on June 30 last year.

The net operating cash flow per share fell to Tk 0.23 in July-September from Tk 0.56 in FY23 because of the reduction in cash collections from customers and others, the filing added.