Shasha Denims profit falls 15%

Shasha Denims, a leading denim manufacturer and exporter, recorded a 15 percent year-on-year decrease in profit for the second quarter of the financial year 2023-24.

Its profit was Tk 8.65 crore in Q2 of FY 24, down from last financial year's Tk 10.15 crore.

Thus, the company's consolidated earnings per share stood at Tk 0.62, down from previous year's Tk 0.77 of, according to its financial report.

The denim exporter also saw its half yearly profit go down by 28 percent year-on-year to Tk 12.51 crore in the July-December period of FY24, it was Tk 17.46 crore in the July December period of FY 23.

In a posting on the website of Dhaka Stock Exchange, Shasha Denims pointed out rising raw material cost, gas and electricity bill as primary reasons for the slump in profits.