RAK Ceramics suffers massive fall in profit 

RAK Ceramics (Bangladesh) Ltd's profit plunged 70 percent year-on-year to Tk 4.7 crore in the January-March quarter of 2024. 

It brought down RAK's consolidated earnings per share (EPS) to Tk 0.11 in the first quarter of the current year, which was Tk 0.37 in the corresponding period previous year, according to a filing on the Dhaka Stock Exchange. 

The company's net operating cash flow per share was Tk 0.83, down from Tk 1.93 in the January-March of 2023.

RAK's net asset value per share increased marginally to Tk 17.4 from Tk 17.21 of the previous year.

RAK Ceramics, one of the largest ceramics manufacturers in the world, is a publicly listed company on the Abu Dhabi Securities Exchange in the UAE and the group has an annual turnover of $1 billion, according to its website.

The company is headquartered in the UAE and operates in over 150 countries with operational hubs in Europe, Middle East, North Africa, Asia, North and South America, and Australia.

RAK Ceramics' products include tiles, sanitary ware, porcelain tableware among others.  

Shares of RAK declined 2.68 percent to Tk 29 today.