Due to rising yarn prices and soaring garment exports, the majority of the listed spinning and textile millers saw an increase in their profitability in the third quarter of the previous fiscal year.
Regulatory filings shows that, of the 58 listed firms, 34 saw higher earnings growth, 19 experienced negative earnings growth, and five have yet to report the earnings from January through March of fiscal 2021–22 compared to the same time last year.
According to analysts, the sector’s profitability in the upcoming quarter may be negatively impacted by the ongoing power crisis and the most recent increase in gasoline prices. The wild fluctuations in the value of the US dollar relative to the taka might have a considerable negative influence on the sector’s exports, according to them.
The third quarter of FY22 saw a 446 percent increase in Tamijuddin Textile’s EPS as compared to the same quarter the previous year. The second-place finisher, Monno Fabrics Limited, reported a 400% increase in earnings. Its EPS was Tk 0.05, down from Tk 0.01 over the period. Anlimayarn Dyeing, Evince Textiles, Hamid Fabrics, Prime Textile Spinning, and Alltex Industries are the top five businesses that reported losing money.
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