Singer Bangladesh posts Tk35cr loss in Q1 despite revenue growth
Singer Bangladesh has reported a significant loss in the January–March quarter, despite posting a 39% year-on-year growth in revenue.
The company posted a loss of Tk34.89 crore in the first quarter of 2025, compared to a loss of Tk2.11 crore during the same period in 2024. Loss per share widened to Tk3.50 from Tk0.21 a year ago.
Its revenue rose to Tk557.85 crore, up from Tk400.29 crore in the previous year.
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In a statement, the company attributed the loss to a decline in gross profit margin, caused by higher average product costs due to discounts and promotional activities, while selling prices remained unchanged. In some cases, prices were even reduced for key products to stay competitive. Additionally, changes in the product and sales channel mix further eroded margins, it said.
Singer Bangladesh also cited a 145% surge in finance costs due to higher interest rates, and a 108% increase in income tax expenses driven by minimum tax requirements and deferred tax liabilities.
