Peninsula Chittagong’s profit falls over 75% in Q1

The Peninsula Chittagong Limited's profit declined more than 75 per cent year-on-year to Tk 94.93 lakh in the October-December quarter of the ongoing financial year. 

The hotel based in the port city made a profit of Tk 3.92 crore in the first quarter of the previous financial year. 

Thus, the earnings per share (EPS) were Tk 0.08 in October-December of FY23 against Tk 0.33 in the identical quarter of 2021-22, according to the unaudited financial statements.

The EPS decreased due to a decline in finance income and the increase in the cost of goods sold, administrative expenses and the hike in non-operating loss, said Peninsula Chittagong in a filing on the Dhaka Stock Exchange (DSE).

The company suffered a loss of Tk 2.97 crore in July-December, way down from the Tk 7.59 crore profit it clocked in the same quarter in the previous financial year. Thus, the EPS stood at Tk 0.25 in negative in July-December against Tk 0.64 in the first half of FY22.

The net operating cash flow per share slipped to Tk 0.19 in the first half of FY23 from Tk 0.26 in the same July-December of FY22. "The NOCFPS fell due to an increase in the cash paid to suppliers," said the filing.

The net asset value per share slipped to Tk 28.97 on December 31 from Tk 29.47 on June 30.

Shares of Peninsula Chittagong closed unchanged at Tk 27.40 on the premier bourse of Bangladesh yesterday.