Runner Automobiles incurs losses again

Runner Automobiles continued incurring losses, as the company posted a loss of Tk 16 crore in the January to March period of 2022-23 fiscal year.

The bike maker said its losses were Tk 8.93 crore during the July to September quarter of the 2022-23 financial year.

However, the local automobile maker logged a profit of Tk 8.85 crore in the same period of the previous year.

Its earnings per share (EPS) stood at Tk 4.31 in the negative in the first nine months of the financial year while it was Tk 2.27 in the same period of the previous year.

The company said its EPS decreased because of the degrowth of revenue, an increase in raw materials price and the finance cost.