A significant blow struck the local company BEXIMCO Ltd. during the first half of the 2023–24 fiscal year, when sales fell by an astounding 64%, or Taka 2,500 crore.
This is in line with reports, which also stated that although the company’s financial report states that goods worth Taka 1,441 crore were sold in the second half of 2023, the reduction was ascribed to a decline in export and local demand.
The company’s cost of revenue increased during this time, mostly as a result of delays in the global supply chain brought on by the US dollar crisis, the conflict between Russia and Ukraine, and rising gas and power prices.
The company’s profit decreased by 99.6% year over year to Taka 2 crore in the final half of 2023 because of the spike in revenue, which is the entire costs incurred in the production and selling of goods or services.
As a result, the earnings per share dropped dramatically from Taka 7.35 in the first half of FY ’23 to Taka 0.03 in the second half.
BEXIMCO is involved in several businesses, including trading, real estate, textile, denim, knitting, IT, and fishing.
