607 crore loss of taka 173 crore company

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607 crore loss of taka 173 crore company

Union Capital, a financial sector company listed on the stock market, has a paid-up capital of Tk 172 crore 57 lakh.

The company posted a loss per share of 35 taka 17 poisa for the fiscal year ended December 31, 2023. Accordingly, the company incurred a loss of Tk 606 crore 94 lakh in the financial year under discussion.

According to Dhaka Stock Exchange (DSE) sources, the company had a loss of 11 taka 95 poisa per share in the year 2022. In which the amount of loss was 206 crore 24 lakh taka.

Union Capital has been in continuous losses since 2019. The loss made the company’s net assets per share (NAVPS) negative at taka 51.03 poisa.

The reason for this predicament is the creation of excess reserves due to loan defaults, increase in reserves due to bad condition of non-performing loans, decrease in interest income, and decrease in brokerage commission income due to stock market recession, Union Capital authorities have mentioned.

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