Beximco, one of Bangladesh's leading conglomerates, reported a substantial decline in net earnings for the second quarter of the fiscal year, primarily due to a production shutdown caused by the unavailability of banking facilities.

Despite this setback, the company managed to maintain a strong operating cash flow.

For the quarter ending December 2024, Beximco posted a loss per share of Tk 2.58, a stark contrast to the earnings per share (EPS) of Tk 0.82 recorded in the same period of the previous year.

Over the six-month period ending December 2024, the company reported an EPS loss of Tk 3.78, down from Tk 0.03 in the corresponding period a year earlier.

Despite the decline in earnings, Beximco reported a notable improvement in its net operating cash flow per share, which rose to Tk 12.58 for the six-month period, up from Tk 1.44 in the previous year.

Beximco attributed the negative financial results to a near-total production shutdown, as banks stopped opening letters of credit from August 2024, making it impossible to procure raw materials.

Additionally, the company was forced to sell fabric and yarn stocks below cost, as garment factories remained non-operational.