Alhaj Textile Mills incurs losses

Alhaj Textile Mills, a listed textile maker, has ended up suffering a loss in the July-December period of fiscal year 2022-23 due to increases in the prices of raw materials and costs rising in several of its operational segments. 

It incurred a loss of Tk 11.22 lakh, a far cry from the profit of Tk 25.72 lakh it secured in the same period of the previous year, according to its financial report.

Thus, its earnings per share have come to stand at Tk 0.05 in the negative whereas it was Tk 0.12 in the six-month period of the preceding year.

The company's sales value rose in the period for both demands for higher volumes and incremental rises in the prices of raw materials, said the company.

Costs of raw materials accounted for 95 per cent of its total sales in the July-December period of 2022-23 whereas it was 86 per cent in this period of the previous year.

The sales volume rose 65 per cent year-on-year to 5.87 lakh kilogrammes. In monetary terms, the company's sales increased 69 per cent to Tk 24.85 crore, the data shows.

On the other hand, its wage and allowance costs rose alongside factory overhead expenses, it said.

Stocks of Alhaj Textile Mills dropped 0.38 per cent to Tk 132 yesterday.