BBS Cables Limited posted an 83.5 per cent year-on-year decline in profit to Tk 2.12 crore in the January-March quarter of the ongoing financial year.

The cable manufacturer generated a profit of Tk 12.91 crore in the same three-month period in 2021-22.

According to the unaudited financial statements, earnings per share were Tk 0.10 in January-March of FY2022-23 compared to Tk 0.61 in the same quarter of FY22.

"The EPS decreased due to an increase in the prices of raw materials and the depreciation of the taka against foreign currencies," said BBS Cables in a posting on the Dhaka Stock Exchange. 

The profit stood at Tk 7.2 crore in the first nine months of FY23, down 88 per cent from Tk 63.72 crore it registered in the same period a year earlier. So, the EPS dropped to Tk 0.34 from Tk 3.01.

The net operating cash flow per share rose to Tk 2.50 in July-March of FY23 from Tk 1.06 in FY22. The net asset value per share slipped to Tk 32.87 on March 31 this year from Tk 33.29 on June 30 last year.

The NOCFPS went up because of an increase in the collection from customers, while the NAVPS decreased due to a spike in paid-up capital, according to the filing.

Shares of BBS Cables closed at Tk 49.90 on the DSE on Monday.