Square Textiles post Tk 37cr profit in Q1

Square Textiles said its profit rose in the July–September quarter because of increased yarn production at its new factory in Habiganj, the northeast district.

Its profit after tax stood at Tk 37.44 crore during the first quarter of its financial year 2024-25, reflecting over 5 percent year-on-year growth. 

Shares of Square Textiles rose 2.21 percent to Tk 55.4 on the Dhaka Stock Exchange as of midday. 

The leading textile maker and exporter said its earnings per share rose to Tk 1.90 in the first quarter of the current financial year from Tk 1.79 the same period a year ago.

The company attributed the improved performance to increased yarn production from its new Habibganj project, and Balancing, Modernization, Rehabilitation and Expansion (BMRE) of its Gazipur facility as well as operations at Square Texcom Ltd.

Square's consolidated net operating cash flow per share (NOCFPS) climbed to Tk 5.27 in the first quarter of this year compared to Tk 4.51 a year earlier.