CVO Petrochemical Refinery reported a 45% year-on-year profit growth in the second quarter of FY2024-25, with earnings reaching Tk 26.6 million.

The company’s earnings per share (EPS) rose to Tk 0.96 in October-December, up from Tk 0.66 in the same period last year, driven by a robust increase in turnover.

For the July-December period, CVO’s EPS improved to Tk 1.88 from Tk 1.76 a year ago. Net operating cash flow per share (NOCFPS) also surged to Tk 2, compared to Tk 0.78 in 2023, due to higher customer collections surpassing payments.

Shares of CVO gained 2.80% in mid-day trading on the DSE, reaching Tk 121.2. Established in 1984 as Chittagong Vegetable Oil Industries, CVO transitioned to petroleum production in 2010 and operates a condensate fractionation plant producing motor spirit, diesel, and turpentine since 2014.