Bangas sees profit drop 73% due to high production costs
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
THURSDAY, MAY 26, 2022
THURSDAY, MAY 26, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Bangas sees profit drop 73% due to high production costs

Corporates

Salah Uddin Mahmud
12 September, 2020, 11:00 pm
Last modified: 12 September, 2020, 11:00 pm

Related News

  • SS Steel sees profit decline despite revenue growth in March quarter
  • Beximco Pharma profit drops 27% in March quarter
  • Walton’s quarterly profits continue to drop
  • Bangas returns to profit in Q1
  • Beximco Limited, Beximco Pharma post stellar growth in Q1

Bangas sees profit drop 73% due to high production costs

However, its gross revenue increased by 34.76% in the first nine months of the last financial year

Salah Uddin Mahmud
12 September, 2020, 11:00 pm
Last modified: 12 September, 2020, 11:00 pm
Bangas sees profit drop 73% due to high production costs

Bangas Ltd, which is listed on the country's stock market, has reported a staggering 73% drop in its net profit in the first three quarters of the last financial year due to increasing production and operating costs.

However, its gross revenue increased by 34.76% in the first nine months of the last financial year that ended on June 30, 2020.

Established in 1980, the company manufactures and exports a wide array of: breads, biscuits, noodles, vegetable snacks, and chips.

Presently, the Dhaka-based company exports its products to different Asian countries, the USA and Europe. 

Md Ekramul Haque, company secretary of Bangas, told The Business Standard, "The company's business was seriously affected, in October 2019, by the high price of raw materials. The company's raw materials are mainly imported from China, but imports were disrupted during the time.

"As a result, the company had to buy raw materials on the local market at a high cost," he added.

Md Ekramul Haque said the purchase and transportation costs of raw materials doubled during that period.

"Our selling and distribution were also affected by the Covid-19 pandemic," he added.

"Additionally, we had to pay more money to retailer agents for the distribution of products during the nationwide shutdown. But we now are trying to overcome this situation." 

In the first nine months of the last financial year, the company's gross revenue was Tk21.52 crore, which was Tk14.04 crore in the same period of the previous year.

At the same time, the company's net profit was Tk0.66 crore, which was Tk2.37 crore in the same period of the previous year.

During this period, the company's total costs and expenses were Tk5.81 crore, which was Tk3.15 crore in the same period of the previous year.

The board of directors has recommended 5% cash and 5% stock dividends for the year that ended on June 30, 2019.

The company's earnings per share was Tk2.17 and net asset value per share was Tk22.22.

Its total share was 76.25 lakh and the reserve is Tk8.51 crore.

Sponsors and directors jointly hold 30.99%, institutions 4.14% and general investors 64.87% of the company's shares.

The company was listed on the Dhaka Stock Exchange in 1984.

The last trading price of the company was Tk158.50 on Thursday.

Bangladesh

Bangas / profit drop / high production cost

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Wheat stock at 3-year low and that may not be good for rice
    Wheat stock at 3-year low and that may not be good for rice
  • Photo: Collected
    Bangladesh among top 20 prospective solar farm capacity nations
  • Bangladesh Bank to sit with ABB, BAFEDA Thursday
    Bangladesh Bank to sit with ABB, BAFEDA Thursday

MOST VIEWED

  • 'The Change Makers' announces panel for upcoming e-CAB election
    'The Change Makers' announces panel for upcoming e-CAB election
  • Mercantile Bank signs participation agreement with Bangladesh Bank
    Mercantile Bank signs participation agreement with Bangladesh Bank
  • Photo: Courtesy
    Seven Rings Cement organises dealer conference
  • Foundation course for officers held at Janata Bank Staff College
    Foundation course for officers held at Janata Bank Staff College
  • BCI delegation pays visit to GiZ country director
    BCI delegation pays visit to GiZ country director
  • Photo: Courtesy
    Green Delta Insurance joins hand with Brac Bank’s Women Banking Segment ‘Tara’

Related News

  • SS Steel sees profit decline despite revenue growth in March quarter
  • Beximco Pharma profit drops 27% in March quarter
  • Walton’s quarterly profits continue to drop
  • Bangas returns to profit in Q1
  • Beximco Limited, Beximco Pharma post stellar growth in Q1

Features

Psycure has received various awards for their extraordinary contributions to promoting Sustainable Development Goals. Photo: Courtesy

Psycure: Meet the organisation serving the underserved university students (and beyond) with mental healthcare 

14h | Panorama
Underlying problems such as school dropouts need to be addressed first before taking a legal route to stop child labour. Photo: Reuters

‘Child labour in a country like Bangladesh is primarily a development issue, not so much of enforcement’

16h | Panorama
The balcony railings of the Boro Sardar Bari in Sonargaon. Made of cast iron, these railings feature vertical posts with intricate designs on top. Photo: Noor-A-Alam

The evolution of railing and grille designs

1d | Habitat
A Russian army service member fires a howitzer during drills at the Kuzminsky range in the southern Rostov region, Russia January 26, 2022. REUTERS/Sergey Pivovarov/File Photo

3 months of Ukraine war : Miscalculations, resistance and redirected focus

1d | Analysis

More Videos from TBS

Where the people have more weapons than military

Where the people have more weapons than military

3h | Videos
Govt plans to amnesty in the offing to bring back laundered money to meet dollar crises

Govt plans to amnesty in the offing to bring back laundered money to meet dollar crises

6h | Videos
Poet Nazrul Islam’s 123rd birth anniversary observed

Poet Nazrul Islam’s 123rd birth anniversary observed

6h | Videos
Soaring commodity prices put pressure on budget

Soaring commodity prices put pressure on budget

10h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

3
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

4
Photo: Courtesy
Panorama

Misfit Technologies: A Singaporean startup rooted firmly in Bangladesh

5
Illustration: TBS
Banking

Let taka slide

6
Photo: Collected
Industry

Spanish recycled cotton producer opens new facility in Bangladesh

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab