Linde Bangladesh’s profit drops 53% in Q1

Linde Bangladesh Limited reported a Tk 14.03 crore profit for the first quarter of 2023, a drop of 53 per cent year-on-year.

The multinational gas manufacturer clocked a profit of Tk 29.90 crore in the same January-March quarter in 2022.

The earnings per share, thus, fell to Tk 9.22 in the first quarter of the year against Tk 19.65 during the identical three-month period of 2022, according to the unaudited financial statements of the company.

The EPS decreased due to lower sales and higher prices of raw materials in the international market coupled with the recent foreign exchange movement, said Linde in a filing on the Dhaka Stock Exchange.

The net operating cash flow per share surged to Tk 37.53 from Tk 13.71, thanks to favourable payment terms accepted by the overseas vendors.

The net asset value per share dropped to Tk 406.65 on March 31 this year from Tk 415.20 on the same day last year.

Linde Bangladesh's products include liquid and gaseous oxygen and nitrogen, argon, acetylene, carbon dioxide, dry ice, refrigerant gases, lamp gas, and medical oxygen.