Olympic Industries posts Tk 56 crore Q1 profit

Olympic Industries, one of the leading companies in the country’s biscuit market, reported a modest increase in first-quarter profits, while its revenue grew thanks to inccreased sales.
Profit for the first quarter was Tk 56.48 crore, a slight increase from Tk 56.12 crore in the same period last year. 
The biscuit manufacturer’s earnings per share reached Tk 2.83 in the July-September quarter of 2024, compared to Tk 2.81 in the same period a year earlier, as per its unaudited financial statements. 
Shares of Olympic started the day at Tk 152.50 at the Dhaka Stock Exchange today and gained 2.49 percent, reaching Tk 156.3 by midday. 
The company’s evenue jumped 18.95 percent year-on-year to Tk 753.58 crore, which the company cited as a result of efficient management efforts to expand sales.
However, its net operating cash flow per share (NOCFPS) declined to Tk 3.08 from Tk 4.42. 
The company said the NOCFPS declined due to increased payments to suppliers and advance income taxes.