HR Textile Mills revenue drops 54%
HR Textile Mills—a concern of Pride Group—reported that its revenue dropped 54% and incurred a loss in the July-September quarter of this fiscal year.
According to the company's unaudited statement, its revenue was Tk20 crore during the first quarter of fiscal 2024-25, which was Tk43.84 crore at the same time of the previous year.
The company also reported that it incurred a loss of Tk8.24 crore in the September quarter, and the loss per share stood at Tk2.82.
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HR Textile shares closed at Tk27.20 on Wednesday, 1.81% lower than the previous session at the Dhaka Stock Exchange (DSE).
At the end of September last year, its net asset value per share stood at Tk18.61, and the net operating cash flow per share was Tk2.82 negative.
Earlier, it was reported that the company incurred a record loss of Tk57 crore in the fiscal 2023-24, representing a loss of Tk19.67 per share.
Owing to the substantial losses, the 100% export-oriented knitting, dyeing, finishing, and garments manufacturer decided not to pay any dividends to its shareholders.
According to data from the DSE, over the last nine fiscal years, from 2014-15 to 2022-23, the textile sector firm paid dividends ranging from 15% to 5%, in both cash and stock.
