SS Steel’s earnings up

Wed Jan 19, 2022 12:00 AM Last update on: Wed Jan 19, 2022 03:55 AM

Chattogram-based steel producer SS Steel recorded a marginal increase in its year-on-year earnings in the July-September period of 2021.

In its filing at Dhaka Stock Exchange yesterday, the listed company said its earnings per share (EPS) rose only 3 per cent to Tk 0.73.

The EPS is the portion of a company’s profit allocated to each outstanding share of common stock, meaning it is an indicator of the company’s profitability.

“Demand for steel has increased almost everywhere. That is why, our sales has increased which is reflected in our earnings per share,” said Company Secretary Md Mostafizur Rahman.

Its consolidated net asset value (NAV) per share also grew to Tk 24.32 on September 30, 2021 from Tk 23.58 as on June 30, 2021.

The steel producer started its journey in 2001, dedicated solely to producing reinforcement bars from small rolling mills.

Its website speaks of plans to double production capacity from this year to expand its market.

Located in Tongi on the outskirts of Dhaka, the company manufactures mild steel (MS) deformed bars of various grades from MS billets and ingots. It also produces MS billets from scrap.

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