Malek Spinning Mills' profit grew 21 percent year-on-year in the second quarter of fiscal year 2024-25 thanks to strong sales.

The company reported a profit of Tk 50.72 crore in the October-December quarter.  

The company's consolidated earnings per share (EPS) rose to Tk 2.62 in the period, up from Tk 2.16 in the same quarter of 2023, according to a disclosure on the Dhaka Stock Exchange (DSE) website.  

"Significant sales volume growth during the reporting period led to an increase in gross profit, net profit, and EPS," the company said.  

Share prices of Malek Spinning surged 9.66 percent to Tk 26.1 during mid-day trading on the DSE today.  

For July-December 2024, its consolidated EPS stood at Tk 4.35, up from Tk 4.06 in the same period of 2023. 

However, consolidated net operating cash flow per share dropped to Tk 4.85 from Tk 6.46, which the company attributed to higher payments for raw materials and increased financial expenses.  

The company's net asset value also rose, driven by increased retained earnings, as per the disclosure.