Bangladesh Lamps’ profit jumps 72pc
Bangladesh Lamps Limited posted a 72 per cent year-on-year increase in profit in the financial year that ended on June 30, driven by higher sales of LED products and the optimisation of operating expenses.
The company reported earnings per share of Tk 8.78 in 2021-22, which was Tk 5.10 in 2020-21.
Net asset value per share fell to Tk 90.99 from Tk 95.16 in 2020-21, owing to a decrease in the fair value adjustment of the company's investment in shares of various companies.
Net operating cash flow per share was a negative of Tk 5.52, against Tk 8.65 in the previous year. The NOCFPS has decreased due mainly to the increase the payments to suppliers, according to a filing on the Dhaka Stock Exchange yesterday.
The board of directors has recommended a 20 per cent cash and a 7 per cent stock dividend for 2021-22.
Bangladesh Lamps Ltd was incorporated in 1960 as a subsidiary of Philips, Holland. In 1993, Philips sold its entire shares to Transcom Ltd, one of the largest enterprises in the country.
The company manufactures electric bulbs, compact fluorescent lamps, tube lights and other lighting products under Transtec Brand in its production facility in Dhaka and markets them through its countrywide distribution network, according to its website.
Yesterday, the company also reported earnings for the first quarter of 2022-23.
The EPS rose to Tk 1.77 in the quarter from Tk 1.27 a year earlier, thanks to a 39.4 per cent increase in sales revenue compared to the same quarter last year.
Shares of Bangladesh Lamps Ltd were down 3.06 per cent at Tk 348.60 on the DSE yesterday.