2 subsidiaries of Pran post lower profits

Two subsidiaries of Pran Group -- AMCL Pran and Rangpur Foundry Ltd (RFL) -- saw a fall in profits during the July-December period of fiscal 2022-23 due to various pressures resulting from ongoing global economic crises.

Profits of RFL dropped 2 per cent year-on-year to Tk 2.14 crore in the first half of the current fiscal, the company said in a disclosure posted on the Dhaka Stock Exchange.

At the same time, RFL's earnings per share edged down to Tk 2.14 from Tk 2.19 during the same period the previous year.

The company owns and operates an industrial undertaking that manufacturers and sells cast iron products that include tube well and irrigation pumps as well as their required spare parts.

RFL's sales in the July-December period remained almost the same at Tk 78.36 crore compared to Tk 78.81 crore during the same period of fiscal 2021-22, as per the company's financial report.

Similarly, profits of AMCL Pran fell 11 per cent year-on-year to Tk 3.09 crore in the first six months of 2022-23. As such, its earnings per share now stand at Tk 3.87 compared to Tk 4.35 previously.

However, the company's sales rose 3 per cent to Tk 154 crore in the period.

The principal activities of the Company throughout the year continued to be trading and processing of fruits, vegetables and other agro products.

Stocks of AMCL Pran dropped 1 per cent to Tk 240 while stocks of RFL fell 0.58 per cent to Tk 154 yesterday.