ACI Formulations witnesses 13% profit fall

ACI Formulations Limited suffered a 13 per cent year-on-year fall in profit to Tk 6.28 crore in the third quarter of the current financial year.

The profit of ACI Formulations, a subsidiary of ACI Limited, stood at Tk 7.22 crore in the identical January-March quarter of 2021-22.

Tap Here to Add The Daily Star As A Trusted Source

Thus, the consolidated earnings per share of the company declined to Tk 1.33 in January-March of 2023 from Tk 1.53 in the same period a year earlier.

The profit of the chemical producer, however, edged up 2 per cent to Tk 25.32 crore in July-March of FY23. It was Tk 24.75 crore in the same period in FY22.

So, it reported consolidated earnings per share of Tk 5.36 in the nine-month period of FY23 against Tk 5.24 in the same period a year ago.

ACI Formulations' consolidated net operating cash flow per share plummeted to Tk 11.29 negative from Tk 0.38 in the first three quarters of the current financial year.

ACI Formulations said the inventory build-up for the upcoming months was the reason for the significant deviation in net operating cash flow per share.

The consolidated net asset value per share was Tk 68.74 on March 31 this year and Tk 65.88 on June 30 last year.