BSRM's profit rises 197% to Tk 273 crore

Profits of BSRM Ltd soared 197 per cent year-on-year to Tk 273 crore in the nine months of the current financial year of 2020-21 powered by higher sales, lower finance and operating cost.

The Chattogram-based steel maker's sales rose 4.4 per cent year-on-year to Tk 4,216 crore in July- March period of the year.

During the same period, BSRM's net finance costs dropped 63 per cent to Tk 69 crore. It was Tk 191 crore in the same period of the previous year.

Thanks to the lower interest rate regime, the company's net finance cost fell.

BSRM, one of the biggest steel makers of Bangladesh, reduced its operating costs during the period by 12.5 per cent to Tk 119 crore.