AFC Agro Biotech’s Q1 earnings drop 86%

The earnings per share (EPS) of AFC Agro Biotech Ltd have dropped by 86% to Tk0.07 Q1 (July-September) of 2020 as against Tk0.5 for the same period of last year.

In a statement published on the Dhaka Stock Exchange (DSE) on Wednesday, the company also said that the net operating cash flow per share (NOCFPS) was Tk0.57 for Q1 of 2020 as against Tk1.60 for the same period of last year.

Meanwhile, the net asset value (NAV) per share stood at Tk17.92 as on September 30 and Tk17.85 as on June 30, 2020.

AFC Agro Biotech Ltd is a manufacturer of the raw materials of antibiotics, proteins, enzymes etc from locally available agro-based key raw materials. This project is first of its kind in Bangladesh.

Earlier on November 25, the board of directors of the company recommended no dividend for this year.

The annual general meeting of the company is scheduled to take place on December 31 on a digital platform.