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The company said sales decreased by 3 percent due to declining market demand.

Among the listed multinationals, only a handful of firms, most notably Marico Bangladesh and Robi Axiata, managed to secure profits during the second quarter, buoyed by improved cost controls and selective demand.

Marico Bangladesh, which sells personal care and hair oil products, saw both revenues and profits rise, helped by stable demand and cost optimisation.

Robi Axiata Ltd, the country’s second-largest telecom operator, reported a doubling of quarterly profits, despite softer revenues. The company attributed the gain to lower operating costs.

The company’s profit soared 140 percent year-on-year to Tk 257 crore in the three months, according to its half-yearly financial reports.

At the same time, its revenue dropped around 2 percent year-on-year to about Tk 2,600 crore.

A 31 percent decline in sales and distribution costs during the period made the highest contribution to the jump in profits, the financial report showed.

Meanwhile, the outlook for the rest of the year remains cautious.

“As interest rates in the banking sector are high, companies with high debt portfolios will continue to suffer as their costs of finance will continue to chip away at their profits,” said Ali Imam, CEO of EDGE Asset Management.

“The telecom sector is a mature sector, so they may not see any big growth in the coming days,” he said, adding that the outlook for the construction sector is not exciting.

Construction-linked sectors, such as cement, steel, and paints, are unlikely to see major growth amid a broader liquidity crunch and slower private investment.

“As owners of black money holders are in a tight situation, so the construction sector may not see high growth,” said Imam.