RAK Ceramics (Bangladesh) Ltd posted a net loss of Tk 14.67 crore in the July-September quarter of 2024, according to an official disclosure, as the ceramics manufacturer attributed the loss to a gas shortage in its production lines and nationwide political turmoil.

The company made a loss per share of Tk 0.35, significantly down from an earnings per share of Tk 0.29 in the same period last year, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

The ceramics manufa-cturer attributed the loss to a demand-supply gap caused by underutilised plant capacity due to inconsistent gas supply from the national grid.

The company's share price responded sharply, plunging 8.52 percent to Tk 20.4 yesterday on the Dhaka bourse.

Adding to the challenge, production and sales suffered due to unprecedented political disruptions during the third quarter, further impacting the company's performance, said RAK.

The ceramics manufacturer attributed the loss to a gas shortage in its production lines and nationwide political turmoil

Additionally, RAK Ceramics reported a loss per share of Tk 0.26 in the January-September period of 2024.

Its net operating cash flow per share (NOCFPS) also saw a downturn, standing at Tk 0.37 in the negative over the nine months as the company prioritised settling vendor liabilities on schedule, despite weakened sales and collection efforts.

RAK Ceramics, one of the largest ceramics manufacturers in the world, is a publicly listed company on the Abu Dhabi Securities Exchange in the UAE and the group has an annual turnover of $1 billion, according to its website.

The company is headquartered in the UAE and operates in over 150 countries with operational hubs in Europe, the Middle East, North Africa, Asia, North and South America, and Australia. RAK Ceramics's products include tiles, sanitaryware, and porcelain tableware, among others.