Eastern Cables returns to profit after losses in 19 quarters
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Dhaka, Nov. 10 -- Eastern Cables, the state-run wire maker, reported to have gained a profit of Tk 8.98 million in the fiscal year 2021-22, even after incurring losses in the first three quarters amounting to Tk 56 million.
The Chattogram-based cable and conductor manufacturer suffered a loss of Tk 27 million in the first quarter, Tk 21 million in the second quarter and Tk 8.0 million in the third quarter of FY2022.
The annual profit is a retreat from losses for four consecutive years since FY18. As a result, earnings per share (EPS) climbed up to Tk 0.34 for FY22 from a loss of Tk 4.68 per share a year ago.
Eastern Cables returned to profit by reducing overhead cost and increasing the selling prices of the products, said company Secre...
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