Global Heavy Chemicals Limited's losses more than doubled to Tk 3.31 crore in the first quarter of the current financial year compared to a year earlier.

The chemical manufacturer and exporter suffered a loss of Tk 1.51 crore in July-September of 2021.

Thus, the earnings per share were Tk 0.46 negative for July-September against Tk 0.21 negative in the same quarter last year, according to the unaudited financial statements of the company.

Sales increased but due to an increase in gas bill expenses and raw material import costs, the EPS decreased in July-September compared to the same period of the previous year, said Global Heavy Chemicals Ltd (GHCL) in a filing on the Dhaka Stock Exchange.

The net operating cash flow per share returned to a positive Tk 0.07 in the first quarter of 2022-23 from a negative Tk 0.30 in July-September of 2021-22.

The net asset value per share fell to Tk 53.22 on September 30 from Tk 53.68 on June 30.

A concern of Opsonin Group, GHCL produces import substitute industrial chemicals like caustic soda, hydrochloric acid, bleaching powder, chlorine, sodium hypochlorite, and chlorinated paraffin wax.

It also exports chlorine to India on a regular basis, according to the website of the company.

GHCL shares were unchanged at Tk 35.10 on the DSE yesterday.