Beximco, a leading Bangladeshi conglomerate, has reported a substantial decline in its financial performance for the second quarter of the fiscal year 2024-2025. The company attributes this downturn to a near-total production shutdown caused by the unavailability of banking facilities, which hindered the procurement of raw materials.
For the quarter ending December 2024, Beximco recorded a loss per share of Taka 2.58, a significant decrease from the earnings per share (EPS) of Taka 0.82 reported in the same period the previous year. Over the six-month period ending December 2024, the company reported an EPS loss of Taka 3.78, down from Taka 0.03 in the corresponding period a year earlier.
Despite these challenges, Beximco managed to maintain a strong operating cash flow. The net operating cash flow per share rose to Taka 12.58 for the six-month period, up from Taka 1.44 in the previous year.
The company attributes the negative financial results to a near-total production shutdown, as banks stopped opening letters of credit from August 2024, making it impossible to procure raw materials. Additionally, Beximco was forced to sell fabric and yarn stocks below cost, as garment factories remained non-operational.
