Ring Shine Textiles incurs Tk 19cr loss in Oct-Dec30 March 2023
Business Report :
Ring Shine Textiles Limited suffered a Tk 19.01 crore loss in the October-December quarter of the current financial year of 2022-23.
This compared to the Tk 50.03 lakh profit the textile manufacturer posted in the same quarter a year earlier.
Thus, the earnings per share (EPS) were a negative Tk 0.38 for October-December of FY23 against a positive EPS of Tk 0.01 in the similar three-month period of 2021-22, according to the unaudited financial statements.
This raised the loss to Tk 38.02 crore in July-December of FY23, which was Tk 17.01 crore in the identical half of 2021-22.
As a result, the loss per share stood at Tk 0.76 in the first half of the ongoing financial year compared to Tk 0.34 in the July-December of FY22.
The EPS was negative because of the incurring loss, highly impacted by the increase in financial expenses, said the textile company in a filing on the Dhaka Stock Exchange.
The net operating cash flow per share rose to a positive Tk 0.30 in July-December from a negative Tk 0.70 in the same half of FY22.