Runner Automobiles standalone earnings per share (EPS) tumbled nearly 98 per cent year-on-year in the January-March, 2020 quarter as sales impacted by Covid-19 outbreak.
The board of directors of the company in a virtual meeting held Sunday approved the third quarter (Q3) un-audited financial statements for the period ended on March 31, 2020.
As per the disclosure, the automobile company’s standalone EPS stood at Tk 0.02 for the January-March, 2020 quarter which was Tk 0.93 in the same quarter of the previous year.
The company’s consolidated EPS also fell to Tk 0.55 for the January-March, 2020 as against Tk 0.77 in the same period last year.
Its nine months for July, 2019 to March, 2020, its consolidated EPS was Tk 2.74 as against Tk 3.58 in the same period a year earlier.
The consolidated net operating cash flow per share (NOCFPS) was negative Tk 6.91 for July, 2019 to March, 2020, which was Tk 0.54 in the same period a year ago.
The net asset value (NAV) per share was Tk 65.49 for July, 2019 to March, 2020.
The company officials said that overall automobile market (2W and 3W) has declined significantly in third quarter (Q3) and immediate past quarter due to new Road Transport Act and other microeconomic issues.
In 2-Wheeler, the 100cc and below segment has been affected the most which contributes 70 per cent of the 2-Wheeler business of the Runner Automobiles.
“March sales and overall market activities got impacted by Covid-19 outbreak,” said a high official of the company.
He noted that efforts are underway to intensify the sales and revenue collection with ease of the situation and by giving full importance to employees’ health and safety as one of the top priorities.
In January 2019, the Runner Automobiles raised a capital worth Tk 1.0 billion under the book building method for research and development, purchase machinery and repaying bank loans.
The cut-off price of the shares of Runner Automobiles was fixed at Tk 75 each and the general investors got per share at Tk 67, a 10 per cent discount on the cut-off price.
Each share of the company, which was listed on the Dhaka Stock Exchange in 2019, closed at Tk 46.10 on Sunday, far below from its cut-off price.
Its share traded between Tk 39 and Tk 114.50 in the last one year.
The company’s paid-up capital is Tk 1.13 billion and authorised capital is Tk2.0 billion, while the total number of securities is 113.53 million.
The sponsor-directors own 50.04 per cent stake in the company, while the institutional investors own 26.47 per cent, and the general public 23.49 per cent as on February 29, 2020, the DSE data showed.