Aramit Cement PLC recently announced that its 142nd Board of Directors meeting took place on 14 November 2024. During this meeting, the board approved the unaudited financial statements for the first quarter, which ended on 30 September 2024. This announcement was made in compliance with the Gazette notification from the Bangladesh Securities and Exchange Commission.
The company’s net revenue was BDT14.39m (US$0.120m) from July to September 2024, down from BDT25.28m (US$0.211m) in the FY23-24. This resulted in losses of BDT75.39m in the first quarter of the FY24-25, compared to BDT136m in 1QFY23 of the FY23-24.
The Bangladesh cement industry faces challenges due to sluggish demand caused by floods, political uncertainty, rising interest rates and a higher effective tax rate.
Aramit Cement, a sister concern of the Aramit Group, is located at 53 Kalurghat Heavy Industrial Estate in Chattogram, Bangladesh. It has a total cement production capacity of 5.10Mta.
by Abdul Rab Siddiqi, Pakistan
