Square Textiles makes Tk 37.68 crore profit in July-September

Square Textiles Ltd saw its profit dip by 17 per cent in the July-September quarter of the financial year 2022-23 owing to higher spending aimed at ensuring energy supply amid the gas and electricity crisis and fuel price hikes.

The concern of Square Group made a profit of Tk 37.68 crore in the three-month period, down from Tk 45.37 crore during the July-September quarter of 2021-22.

The earnings per share of the textile miller declined to Tk 1.91 in the three months to September 30 from Tk 2.30 during the same quarter a year earlier.

The net operating cash flow per share slumped by half to Tk 2.82 during July-September from Tk 5.23 in the same period a year earlier.

In a posting on the Dhaka Stock Exchange, Square Textiles said its net cash flow decreased due to the volatility in business operations, realisation from debtors and import payments.

Square Textiles shares closed unchanged at Tk 67.50 on the DSE today.