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Aamra Networks' Q3 EPS dips 49pc due to pandemic

May 27, 2021 00:00:00


FE REPORT

Aamra Networks witnessed a 49 per cent fall in its third quarter (Q3) earnings for January-March, 2021 compared to the same quarter of the previous year due to the decrease of overall revenue amid pandemic.

The IT company has reported earnings per share (EPS) of Tk 0.50 for January-March 2021 as against Tk 0.98 for the same period of the previous year.

The company said its earnings fell due to the decrease of overall revenue during the third quarter period for January-March, 2021, the company said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

The internet bandwidth sales also decreased, whereas the computer and related accessories and equipment sales increased considerably.

"Due to inadequacy of supply and transportation caused by the Covid-19 pandemic and higher material cost, the profit margin has reduced further," said the company.

Besides, the financial expenses have increased considerably the current quarter compared to the last quarter. These all together decreased the earnings significantly at the end of March 31, 2021, the company added.

The company's nine months EPS also dropped to Tk 1.75 for July 2020-March 2021 as against Tk 2.67 for July 2019-March 2020.

The net operating cash flow per share (NOCFPS) was Tk 2.35 for July 2020-March 2021 as against Tk 4.12 for July 2019-March 2020.

The net asset value (NAV) per share was Tk 36.70 as on March 31, 2021 and Tk 35.95 as on June 30, 2020.

The net operating cash flow per share decrease during the period under review due to payment to suppliers and finance cost enhanced significantly compare to the increase in cash received, said the company.

Each share of the company, which was listed on the DSE in 2017, closed at Tk 38.80 on Tuesday. Its share traded between Tk 33.20 and Tk 52.70 in the last one year.

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