Premier Cement Mills’ profit rockets nearly 2,000%

Premier Cement Mills PLC posted a Tk 30.79 crore profit in the January-March quarter of 2022-23, an increase of 1,985 per cent year-on-year.

The profit stood at Tk 1.48 crore in the same quarter of 2021-22.

Thus, the earnings per share were Tk 2.92 in January-March of 2022-23 against Tk 0.14 in the same quarter of 2021-22, showed the unaudited financial statements of the company.

The cement manufacturer's overall profit stood at Tk 4.85 crore in the July-March period of the ongoing financial year, up from Tk 3.90 crore a year ago.

This is because the company's profit rose marginally in the second quarter of FY23 whereas it suffered a loss of Tk 26.68 crore in the first quarter.

The net operating cash flow per share of Premier Cement rose to Tk 5.70 in July-March of FY23 from Tk 4.85 in the same nine-month period of FY22.

The net asset value per share slipped to Tk 66.59 on March 31 this year from Tk 67.13 on June 30 last year.