Rahima Food’s profit jumps 425% in July-September

Rahima Food Corporation Limited posted a 425 per cent increase in profit in the first quarter of the current financial year.

The coconut oil producer made a profit of Tk 42 lakh in the July-September quarter of 2022-23, way higher than Tk 8 lakh registered in the identical quarter in the previous financial year.

Thus, the earnings per share were Tk 0.21 for July-September against Tk 0.04 in the same three-month period of 2021, according to the un-audited financial statements of the company.

Established in 1991, Rahima Food used to produce and market refined edible oil in bulk quantity until 2013. Then, it had to stop its production to avoid losses due to the scanty marketability of its products.

In December 2017, the company decided to change the nature of its business and set up a coconut oil-producing plant. The plant began commercial operation in February this year.

The net operating cash flow per share was Tk 0.72 for July-September compared to a negative Tk 0.15 in the same quarter of 2021.

The net asset value per share was Tk 9.77 on September 30, up from Tk 9.33 on the same day last year.