Queen South Textile Mills posts 31% rise in profit

Queen South Textile Mills Limited's profit rose 31 per cent year-on-year to Tk 23.61 crore in the last financial year of 2021-22.

The textile company made a profit of Tk 17.99 crore a year earlier.

Thus, the export-oriented dying company serving the sweater sector reported earnings per share of Tk 1.64 for the year that ended on June 30. It was Tk 1.25 in 2020-21.

The net asset value per share fell to Tk 16.04 in 2021-22 from Tk 16.31 in 2020-21, while the net operating cash flow per share slipped to Tk 0.54 from Tk 1.05 during the period.

The board of directors of Queen South Textile Mills recommended a 6 per cent cash and a 6 per cent stock dividend for 2021-2022, according to a filing on the Dhaka Stock Exchange today. 

Queen South produces various types of knitted, dyed and finished cotton, nylon, polyester, viscose, carded, combed and acrylic yarns.