Eastern Cables returns to profit after 5 years

Eastern Cables Ltd made a profit of Tk 89.76 lakh in 2021-22, its first profit in five years. 

The state-run enterprise incurred a loss of Tk 12.36 crore a year earlier. It reported positive earnings per share of Tk 0.34 in 2021-22 against negative EPS of Tk 4.68.

The board of directors has recommended a 2 per cent cash dividend for the year that ended on June 30.

The enterprise published its unaudited financial statements for July-September. In the quarter, it made a profit of Tk 21.12 lakh, an improvement from a loss of Tk 2.67 crore.

The EPS was Tk 0.08 in July-September against Tk 1.01 in negative during the identical quarter of 2021.

Shares of Eastern Cables, however, shed 11.42 per cent to Tk 203.20 on the DSE yesterday.