Monno Agro & General Machinery, a subsidiary of Monno Group of Industries, posted a net profit of Tk 7.74 million for FY'24, registering a 2.0 per cent year-on-year decline.
As a result, the company's earnings per share (EPS) dropped to Tk 2.15 for FY'24 from Tk 2.19 in the year before, according to price sensitive information published on Thursday.
Earnings declined slightly due to weak demand for its products amid persistent high inflation and ongoing macroeconomic challenges, according to a company official who declined to be named.
He said management is trying to optimize costs as much as possible under the current conditions while working to boost sales.
Despite the profit drop, the board of directors of the company declared a 25 per cent stock dividend for FY'24, meaning the investors will get Tk 2.5 per share as against profit of Tk 2.15 per share.
The company has yet to disclose its annual revenue figures. However, for the nine-month period ending in March this year, its revenue was Tk 92.42 million, as against Tk 92.80 million during the same period last year.
The net operating cash flow per share, a measure of a company's ability to generate cash from its operations, stood at Tk 0.50 per share as against negative Tk 2.36 per share the previous year.
The net asset value, which refers to the excess of total assets over total liabilities, reached Tk 134.03 per share as of June this year, up from Tk 132.11 in June 2023.
The company set the date for its annual general meeting on December 28 and the record date for entitlement of dividend is on December 1.
Listed in 1982, its stock price surged 4.41 per cent to close at Tk 435.9 on Thursday on the Dhaka Stock Exchange.
Monno Agro & General Machinery, formerly Monno Jute Stafflers, is producing various types of machinery and spare parts for different industries, widely used for agro-machinery.
The company's authorised capital is Tk 1.0 billion and paid-up capital is Tk 36.07 million.
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