Financial Express has reported that Bangladesh’s leading steelmaker GPH Ispat has reported a loss of BDT 55.88 million in October-December quarter of FY 2022-23, much lower than loss of BDT 794.07 million in the first quarter. As a result, the company incurred a loss of BDT 849.95 million in the first half of the current FY23 as compared to profit of BDT 949.4 million in the first half of the current FY22. GPH Ispat has attributed losses to significant increase of foreign currency conversion rate as well as the shortage of power supply which has disrupted production and also adversely affected production costs However, GPH Ispat net revenue grew by 44% YoY to BDT 14.74 billion in October-December 2022 quarter, due to increased production capacity following the completion of a new plant. And in the six months, its net revenue rose 42% YoY to BDT 27.56 billion.
Financial Express has reported that Bangladesh’s leading steelmaker GPH Ispat has reported a loss of BDT 55.88 million in October-December quarter of FY 2022-23, much lower than loss of BDT 794.07 million in the first quarter. As a result, the company incurred a loss of BDT 849.95 million in the first half of the current FY23 as compared to profit of BDT 949.4 million in the first half of the current FY22. GPH Ispat has attributed losses to significant increase of foreign currency conversion rate as well as the shortage of power supply which has disrupted production and also adversely affected production costs However, GPH Ispat net revenue grew by 44% YoY to BDT 14.74 billion in October-December 2022 quarter, due to increased production capacity following the completion of a new plant. And in the six months, its net revenue rose 42% YoY to BDT 27.56 billion.
