Bashundhara Paper Mills, a prominent manufacturer of paper and paper allied materials, faced a notable 20% decline in profit during the initial nine months of the fiscal year 2023-24. The company’s profit for the July-March period dropped to Tk31.51 crore from Tk39.25 crore in the same timeframe of the previous fiscal year. Despite a responsive business strategy resulting in a 4.01% increase in sales, Bashundhara Paper cited higher borrowing costs as a primary factor contributing to the profit downturn. The company reported a growth in revenue to Tk1,048 crore from Tk1,007 crore in the first nine months of FY23. This development underscores the challenges posed by increased interest rates on borrowings amid efforts to sustain profitability amidst evolving market dynamics.
Source for more details:
