Ring Shine Textiles incurs Tk 19cr loss in Oct-Dec
30 March, 2023
Ring Shine Textiles Limited suffered a Tk 19.01 crore loss in the October-December quarter of the current financial year.
This compared to the Tk 50.03 lakh profit the textile manufacturer posted in the same quarter a year earlier.
Thus, the earnings per share (EPS) were a negative Tk 0.38 for October-December of FY23 against a positive EPS of Tk 0.01 in the similar three-month period of 2021-22, according to the un-audited financial statements.
This raised the loss to Tk 38.02 crore in July-December of FY23, which was Tk 17.01 crore in the identical half of 2021-22. As a result, the loss per share stood at Tk 0.76 in the first half of the ongoing financial year compared to Tk 0.34 in the July-December of FY22. The EPS was negative because of the incurring loss, highly impacted by the increase in financial expenses, said the textile company in a filing on the Dhaka Stock Exchange.
The net operating cash flow per share rose to a positive Tk 0.30 in July-December from a negative Tk 0.70 in the same half of FY22.
The net asset value per share slipped to Tk 3.23 on December 31 from Tk 2.50 on June 30.
The NAV per share decreased as it incurred a loss since the company is operating at 17-25 per cent capacity and yet to reach break-even, the filing said.
Shares of Ring Shine Textiles closed unchanged at Tk 9.80 on the DSE yesterday.
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Source: www.thedailystar.net
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