Eastern Lubricants' profit up 171pc on higher sales, non-operating income

FE REPORT | Published: April 28, 2026 22:23:17

Eastern Lubricants Blenders posted an impressive 171 per cent year-on-year growth in profit to Tk 42.82 million in the third quarter of FY26, driven by strong sales and a notable rise in non-operating income.
The state-run entity's revenue rose 16 per cent to Tk 239 million in the January-March quarter, compared to the same quarter last year, according to a stock exchange filing on Tuesday.
Non-operating income jumped 50 per cent year-on-year to Tk 14.3 million in the quarter to March this year, significantly boosting the bottom line.
Earnings per share (EPS) surged to Tk 17.98 in the quarter from Tk 6.62 (restated) in the same quarter a year earlier.
"Profit increased due to higher sales of base oil and non-operating income," the company said in its earnings note.
Like several other state-owned, cash-rich firms, Eastern Lubricants has increasingly relied on income beyond its core operations, benefiting from elevated interest earnings on bank deposits.
A subsidiary of Bangladesh Petroleum Corporation (BPC), Eastern Lubricants primarily imports base oil and supplies it to other state-run entities, including Padma Oil Company, Meghna Petroleum, and Jamuna Oil Company.
In the nine months through March of FY26, the company's profit climbed 66 per cent year-on-year to Tk 68.2 million. Sales rose 6 per cent to Tk 552 million, while non-operating income increased 10 per cent to Tk 45 million during the period.
Following the disclosure, the company's share price surged 6.25 per cent to Tk 1,613.3 on Tuesday on the Dhaka Stock Exchange.
Net operating cash flow per share-a key indicator of a company's ability to generate cash from its core business-fell sharply to Tk 34.77 in the nine months through March this year, from Tk 57.68 in the same period a year earlier.
The company attributed the decline to a rise in accounts receivable, which reduced cash inflows. Additionally, substantial payments to suppliers for product purchases further weighed on operating cash flow.
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