Metro Spinning Doubles Production Capacity

Singer Bangladesh reported a net loss of Tk 185 million in Q3 2024 due to lower-than-expected sales amid political unrest and floods, compared to a Tk 87.7 million profit in the same period last year.

Square Textile PLC has announced a 32% cash dividend for FY24, surpassing last year's 30%, and approved a Tk35 crore investment for balancing, modernization, rehabilitation, and expansion (BMRE). The company's EPS slightly rose to Tk5.89 from Tk5.81 in the previous year, while NAV per share increased to Tk51.82 from Tk48.93, and NOCFPS dropped to -Tk12.59 compared to Tk3.79.

BSRM Limited saw a 27% revenue drop to Tk8,352 crore in FY24, down from Tk11,506 crore. However, profit surged 48% to Tk432 crore, with an EPS of Tk14.48. The company announced a 35% cash dividend, and its shares rose 1.36% to Tk82.20.

Heidelberg Materials Bangladesh reported a Tk0.79 crore loss in Q3, with revenue dropping 20% to Tk293 crore amid political instability and slowed cement demand. The company's earnings per share (EPS) declined to Tk7.31 from Tk8.94 year-on-year. Shares fell 3.79% to Tk246.20.

Sena Insurance PLC (SIPLC) reported a profit of Tk 3.88 crore for the third quarter of 2024 (July-September), representing a 17% decline compared to the same period last year. The earnings per share (EPS) decreased to Tk 0.97 from Tk 1.18 in the previous year, primarily due to a reduction in business income.

Bangladesh Bank has raised the key policy rate by 50 basis points to 10%, marking the 11th consecutive increase aimed at controlling persistent inflation. This adjustment, effective October 27, places the overnight repo rate above the inflation rate for the first time in years, reflecting the central bank's commitment to a contractionary monetary policy under Governor Ahsan H Mansur.