Shasha Denims Limited’s earnings per share (EPS) on Tuesday tumbled for the third quarter (January-March) of FY20 compared to the same period of previous year.
The company reported EPS of Tk0.13 for January-March 2020 as against Tk1.55 for January-March 2019. Its EPS declined by Tk1.42 or 92%, according to an official disclosure posted by the company on Dhaka Stock Exchange (DSE) website on the day.
Managing Director of Shasha Denims Shams Mahmud said that the significant fall of EPS was mainly caused due to almost non operation of Energis Power Corporation (a major subsidiary of the company) as its PPP contract expired in July 2019 and the company, as a result, suffered a loss of Tk10.32 crore. Besides, the cost of fabrics and financial charges increased significantly, impacting the company’s profit, he said.
According to the disclosure, the earnings per share of the company fell by 66% in nine months to March, 2020. The company’s consolidated EPS stood at Tk1.21 for the first nine months as against Tk3.58 for the same period last year.
Shasha Denims was listed on the Dhaka Stock Exchange in 2015. The textile sector company belongs to “A” category. The company’s paid-up capital is Tk134 crore. A share of the company closed at Tk 21.60 each on Tuesday.
The company disbursed 5% cash and 5% stock dividend for the year that ended on June 30, 2019.
The sponsor-directors own 37.57% stake in the company, while the institutional investors own 19.26%, foreign 1.12% and the general public own 42.04%. ♦
