4:34 pm - Friday October 18, 8858

Appollo Ispat’s earning soars by 36.83pc

The earning of Appollo Ispat Complex limited, a company listed on the capital market in engineering category has increased by 36.83 percent.

The net earning of the company during the first quarter of the 2014-15 fiscal year rose to Tk. 13,52,65,000 against Tk. 9,88,57,769 during the same period of previous (2013-14) fiscal.

Appollo Ispat Complex Ltd. Logo The Earning Per Share (EPS) of the company during the said period under review was 0.54 when the number of shares of the company was 25 crore. During the same period of previous year, the company’s EPS was 0.66 and 15 crore shares.

The annual report shows, if the number of shares remained as low as Tk. 15 crore during 2014-15 fiscal, the EPS could have increased to 0.09.

Considering this, it is assumed that the company’s net asset value per share would rise. The company witnesses surge in asset value as its burden on bank interest has been reduced by Tk. 2 crore because the company’s liability has come down.

Besides, the company’s has to pay less corporate taxes than before as its has to count 27.50 percent as income tax, down from 37.50 percent as it has been listed on stock market. For this, the company now saves up to Tk. 2 crore as income tax.

Meanwhile, the company is going to organize the annual general meeting (AGM) at Dream Holiday at Pachdona in Narsindhi on December 21, 2014 for taking the approval of shareholders for its recommended 15 percent stock dividend and also to approve other agendas.