Runner Automobiles PLC faced a substantial setback in the first quarter of the current FY23. The company reported a consolidated loss of Tk28 crore, marking a significant increase of 202% compared to the same period in FY22.
This widened loss is attributed to a sharp decline in sales across all sectors, including 2-wheelers, 3-wheelers, and commercial vehicles. The loss per share rose from Tk0.81 in Q1 FY22 to Tk2.27 in the current quarter.
Runner Automobiles’ revenue also plummeted by 25% to Tk172 crore, down from Tk230 crore in FY22. The challenging economic conditions, characterized by an economic slowdown and high inflation, led the company to incur a loss of Tk96 crore in the entire FY22–23.