BSRM Ltd posts 290% jump in earnings in Q3

BSRM Ltd, the flagship company of BSRM Group, has said it posted around 290 percent in its third-quarter earnings-per-share (EPS) last year.

“EPS increases as the financial cost has been reduced significantly during this period compared to earlier year's same period to low-interest rate, settlement of term loans and Government supportive packages. Income from Associates has also been increased due to the same reason, said the company in a filing with the Dhaka Stock Exchange on Wednesday.

Its consolidated EPS stood at Tk6.26 in January-March 2021, a jump of more than 288 percent from Tk 1.61 in the same period a year earlier, it said.

On June 7, the Bangladesh Securities and Exchange Commission (BSEC) tor approved the acquisition procedure of listed BSRM Steels Limited with the non-listed BSRM Steel Mills Ltd--the two subsidiaries of the group.

The merger reduces the corporate taxes, as non-listed companies need to pay 30 percent corporate tax while listed companies pay 22.5 percent