M I Cement Factory’s Q1 earnings drop by 10%

The earnings per share (EPS) of the M I Cement Factory Limited have dropped by 10 percent to Tk0.51 in the Q1 (July-September) of 2020 as against Tk0.57 for the same period of last fiscal year (FY).

In a statement published on the Dhaka Stock Exchange (DSE) on Sunday, the company also reported that its net operating cash flow per share (NOCFPS) was Tk5.97 for the Q1 of 2020, as against Tk0.57 for the same period a year ago.

It was also reported that the net asset value (NAV) per share was Tk47.06 as on September 30 and Tk46.38 as on June 30, 2020.

According to the company, a higher cash flow from accounts receivable was the reason behind increasing NOCFPS by Tk80.20 crore in Q1 compared to the corresponding period last year.

It mentioned that the decrease of operating expense due to the pandemic situation, and the decrease in the financial expense offset by the decrease in financial income due to sharp drop in fixed deposits in this period due to FDR encashment, are also the reasons behind increasing NOCFPS.