Paramount Textile posts 10% profit growth in Q3
The company’s net profit reached Tk96.40 crore, up from Tk87.50 crore recorded during the same period in the previous fiscal year
Paramount Textile PLC, a textile firm listed on the stock exchanges, has announced a robust 10% increase in its consolidated net profit for the third quarter of the 2024-25 fiscal year, ending March.
The company's net profit reached Tk96.40 crore, up from Tk87.50 crore recorded during the same period in the previous fiscal year.
As per its price-sensitive information published in a newspaper, during the January to March period of FY25, its consolidated EPS increased to Tk5.22, which was Tk4.64 in the same period of the previous fiscal year.
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During the Q3, its net asset value (NAV) also increased by 12.36% to Tk763.40 crore, up from Tk679.42 crore in the January to March period of FY24.
According to its audited report, its revenue in the third quarter increased by Tk134 crore or 16.57% to Tk943.81 crore. While its profit from operation increased by 48% to Tk202.30 crore.
Its finance costs surged to Tk105.64 crore, up from Tk80.87 crore in the same period of the previous fiscal year.
In FY24, it made a profit of Tk107.77 crore with EPS of Tk6.62. It paid a 5% cash and 10% stock dividend to its shareholders.
Paramount Textile was listed on the bourses, raising funds in 2013. As of May this year, sponsor-directors held the majority stake with 60.95% of shares, while institutional investors accounted for 12.44%, foreign investors held 4.33%, and general investors possessed 22.28% of the company's shares, according to data from the Dhaka Stock Exchange (DSE).
