Meghna Insurance’s EPS extensive loss

Mohammad Tarequzzaman

Meghna Insurance Company Limited, listed in the capital market, has declined profit. But the company’s authority is careless in this regard. According to the related sources.
Market insider said, Meghna Insurance did not achieve profit from the second quarter of the ongoing year. Rather the company has lost their profit in the said period.

Dhaka Stock Exchange (DSE) sources said, the company’s earnings per share (EPS) were Tk 0.33 in the second quarter (April-June) of the ongoing year. In the same period of the previous year the company’s profit was more lost. The company lost Tk 0.59 in the same period of the last year. Although in the second quarter of the current year the company’s loss has declined Tk 0.25 than in same period of the previous year.

Meanwhile, the company’s EPS was Tk. 0.26 for January-June 2022 as against Tk. 1.10 for January-June 2021. And the company’s EPS was Tk 0.66 for January-March 2022 as against Tk. 1.83 for January-March 2021. Also in this case, the company’s EPS has declined Tk 1.17.

Besides, the company is violating the rules of DSE. That is every listed company of the country’s capital market gives their contact person’s name and number in their company profile according to rules of DSE. But Meghna Insurance did not give their contact person’s name and number in their profile to DSE. As a result the company violated the rules of DSE.

Md Abdus Samad, the company secretary of Meghna Insurance told the Daily Tribunal that We gave our contact person’s name and number to the DSE but the authority of DSE did not include our contact person’s name and number in our company profile. So, this is not our mistake. This is a mistake of DSE. And he also said, I would not explore the company’s EPS. The Chief Financial Officer (CFO) will talk about the company’s EPS. But the CFO has not told the reporter about EPS.

Md. Shafiqur Rahman, the Deputy General Manager (DGM) of DSE told the Daily Tribunal, Meghna Insurance has not their contact person’s name and number yet. That is why, we did not include their contact person’s name and number in the company profile.

Mentionable that, the last closing price of Meghna Insurance was Tk 44.80. The company’s authorized capital at present Tk 1000 million and paid up capital Tk400 million. Company’s total securities 4 crore in which sponsor share is 30.28 percent, Institutional share 18.99 percent and public share 50.73 percent.