fbpx

Source: TBS 27 July, 2022, 09:35 pm

The profit margin of Marico Bangladesh Limited – an India-based multinational company – shrank in the March-June quarter – despite a 9% growth in revenue – due to a sharp rise in income tax expenses.

Following financial disclosures, its shares closed 0.58% or Tk14.1 lower at Tk2,418 each on the Dhaka Stock Exchange (DSE) on Wednesday.

Marico starts its financial year in March. According to its unaudited financials, the company’s profits before tax increased 4.52% compared to the same period in the previous year.

But its net profit declined 5% to Tk102.90 crore as income tax expenses rose 56%.

Based on three-month financials, Marico, which listed on Bangladesh’s stock exchanges in 2009, has recommended a 300% interim cash dividend for its shareholders.

After the board of directors’ meeting, the multinational company revealed its financials for the first quarter on the country’s premier bourse.

During the period, its revenue increased to Tk364.65 crore from Tk334.40 crore a year ago.

Marico started out in Bangladesh in 1999 with its flagship brand, Parachute Coconut Oil.

Since then, the company has expanded its business to 29 brands in personal care and food items, such as Saffola edible oil.

To meet the growing demand for coconut oil and food products, it invested Tk29.3 crore to increase the capacity of its factory in Gazipur and set up a new manufacturing line at the beginning of 2020.

Marico Bangladesh Limited / Marico Bangladesh

You may also like

view all news
August 19, 2022

NAVANA PHARMACEUTICALS IPO

নাভানা ফার্মাসিউটিক্যালস আইপিও আবেদনের তারিখ নির্ধারণ : Subscription :Open : 13 September Subscription : …

Read More
July 19, 2022

How Factor Investing Works, Using Everyday Examples

Factor Investing: How You May Experience it Why do investments perform the way they do? This is a question many investment experts have been attempting to answer for years. Luckily, factor investing c …

Read More
July 18, 2022

The Largest Importers of Russian Fossil Fuels Since the Ukraine War

Who’s Still Buying Fossil Fuels From Russia? The Largest Importers of Russian Fossil Fuels Since the War Despite looming sanctions and import bans, Russia exported $97.7 billion worth …

Read More
July 17, 2022

The smart investor’s guide to evaluating investment return performance

Source: DhakaTribune June 22, 2022 6:46 PM If you truly want an idea of how well your portfolio is doing, you need something to compare the return with your invested capital. It took you several month …

Read More
July 14, 2022

Forex reserve to stay in stress

Source: TBS 13 July, 2022, 10:40 pm As global market prices are still high, overall import bills are not coming down As anticipated, foreign exchange reserves dipped below $40 billion and looks set to …

Read More