Sonali Paper’s profit falls 20% 

Sonali Paper & Board Mills Ltd (SPBML) reported a net profit of Tk 12.48 crore for 2023-24 fiscal year, a 20 percent decline year-on-year. 

The company attributed the profit decline to a reduction in other income, which affected the company's net profit and earnings per share (EPS). 

It reported an EPS of Tk 3.79, a net asset value (NAV) per share of Tk 164.73, and a net operating cash flow per share (NOCFPS) of Tk 10.39 for the year ended on June 30, 2024, according to a disclosure on the Dhaka Stock Exchange (DSE) website. 

This is in contrast to the previous year's figures of Tk 4.74 for EPS, Tk 164.94 for NAV, and Tk 7.47 for NOCFPS. 

Despite the drop in earnings, the company said its cash flow improved thanks to higher sales and collections.

Sonali Life's board has recommended a 40 percent cash dividend for the year.

A concern of the Younus Group of Industries, Sonali Life has been operational since 1977, focusing on the production of paper and board products. 

The company's industrial units are located in Narayanganj, with its headquarters in Dhanmondi, Dhaka.

Shares of SPBML surged 4.79 percent to Tk 164.2 today on the DSE.