RSRM Steel’s earnings dip down by 292.72% in a year

Earnings per share (EPS) of Ratanpur Steel Re-Rolling Mills Limited (RSRM) went down by 292.72% to negative Tk1.06 for Q1 (July-September) of 2020 against Tk0.55 for the same period last year. 

The steel manufacturing company, in a statement on the Dhaka Stock Exchange (DSE) website on Monday, said that less production and fewer sales due to the Covid-19 pandemic is the reason behind the decreasing EPS. 

The company also mentioned that it had purchased raw materials from local suppliers at a higher cost. 

RSRM’s net operating cash flow per share (NOCFPS) was Tk0.05 for Q1 of 2020 against Tk0.30 for the same period last year. Its net asset value (NAV) per share was Tk48.63 on September 30 and Tk49.69 on June 30, 2020.