MJL Bangladesh posts 15.53% lower profit in 2021-22
MJL Bangladesh Limited reported a 15.53 per cent year-on-year decline in profit at Tk 201.45 crore in the financial year that ended on June 30.
It raked in Tk 238.51 crore in profit in the previous financial year.
The company reported consolidated earnings per share of Tk 6.36 for 2021-22 against Tk 7.53 a year earlier.
The consolidated net asset value per share rose slightly to Tk 40.55 in the last financial year from Tk 39.69 in 2020-21, while the consolidated net operating cash flow per share slipped to Tk 5.28 from Tk 8.24 during the period.
The board of directors has recommended a 50 per cent cash dividend for 2021-22.
The journey of blending world-class lubricants in Bangladesh started in 1998 when Mobil Corporation, later known as Exxon Mobil Corporation, decided to set up Mobil Jamuna Lubricants Ltd in partnership with state-owned Jamuna Oil Company Ltd.
MJL Bangladesh is a joint venture between EC Securities Limited, a subsidiary of East Coast Group, and Jamuna Oil.
In 2003, the company commissioned a lube oil blending plant, the first of its kind in Bangladesh.
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