RAK Ceramics reported a loss for the third quarter through September this year as sales and production decreased amid the political upheaval and gas supply shortage.
Its loss per share was Tk 0.35 in July-September this year, whereas it earned a profit of Tk 0.29 per share a year ago.
In the first nine months of this year, the company's loss per share was Tk 0.26 whereas it earned Tk 0.96 per share during the same period of the previous year.
According to the company, sales plunged by 19.12 per cent year-on-year to Tk 4.53 billion in the nine months.
One of the main reasons behind the decline in sales is the interruption in gas supply from the national grid. Because of the gas shortage, the company was unable to utilize plants' capacity.
Another reason was the political crisis that led to a changeover.
The company bore the fixed costs despite lower production and sales. So, the gross profit margin dropped from 24.97 per cent to 18.29 per cent. It had to borrow money at high interest rates to run the operations because of a liquidity crisis.
The consolidated net operating cash flow per share, a measure of a company's ability to generate cash from its operations, was Tk 0.37 in the negative for January-September this year, which was Tk 0.17 in the negative in the same period a year before.
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