LafargeHolcim Bangladesh Ltd. has made an after tax profit worth Tk 945 million in the first quarter of 2022, down 8.69 percent from Tk 1,035 in the same period of 2021, a company press release said Monday.
The profit margin was 15 percent in Q1 2022 as against 16 percent in Q1 of 2021, the press release said, adding the Q1 Consolidated operating EBIT was Tk 1278 million, down 6 percent from the same period last year.
The decline in profit was attributed to the sharp increase in raw material prices, it said, adding that the company intensified the digital integration by launching own integrated e-commerce site “nirmanbandhob.com.”
Rajesh K Surana, CEO of the company said, “The first quarter of the year 2022 has been a quarter with external challenges. Our net sales decreased by one percent and EPS have reached Tk. 0.81 per share. We thank our employees, channel partners and stakeholders for their resilience which enabled us to navigate successfully in these difficult times.”
He said the company has recently restarted its aggregates production with the permission from the Ministry of Industries. The import replacement project will save the country’s foreign exchange and will ensure higher revenue for the government exchequer, he added.
Net sales during the quarter fell by 1% to Tk 6,259 million compared to Tk 6,318 million in Q1, 2021.
