Bangladesh Thai Aluminium posts 512% growth in profit for FY 20-21

The producer and supplier of quality aluminium profiles Bangladesh Thai Aluminium Limited, which was impacted heavily due to the Covid-19 crisis in the previous year, have excelled in the pre-pandemic position in regards to the making of profit.

The supplier of fabricated aluminium in Bangladesh, which furnished multiple prestigious buildings, Bangladesh Thai Aluminium booked a profit growth of 512% to Tk16.03 crore compared to the existing fiscal year.

As per the reports on its financials, the revenue attained the pre-pandemic level in FY21 to Tk120.36 crore, an escalation of 58% from the previous year. In FY2018-19, the revenue stood at Tk121.22 crore, while the profit remained at Tk6.97 crore.

However, the Covid-19 pandemic hit the revenue to plunge at Tk76.24 crore, whereas the profit dragged down to Tk2.62 crore in FY20.

Bangladesh Thai Aluminium, the renowned aluminium product manufacturer, in spite of amazing growth in profit, when compared to last year will reduce dividend pay-out to its shareholders for spending the preserved earnings on the companies further development works.

The company anticipates that the development work will support it to drive higher growth and secure a stronger base, while the firm also ensures a healthy return from investments in the long run.

The aluminium profiles company has decided to procure a new extraction machine for higher productivity and better quality, and peripheral equipment for capacity un-gradation. It will also build a shed and a building along with landfilling and land development.

The company added that it will revamp extraction plants and futuristic development plan and structural up-gradation for the potential stainless steel manufacturing facility.