Dacca Dyeing & Manufacturing Co Ltd reported a staggering 344 percent year-on-year increase in losses primarily because of the gas line disconnection by Titas.

The company recorded a loss of Tk 22.48 crore for the fiscal year ending June 30, 2024, with a loss per share rising to Tk 2.58 from Tk 0.58 in the previous financial year, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

The company cited a significant reduction in turnover due to the gas line disconnection of its factory as a major factor in the increased losses.

Additionally, provisions for doubtful debts on receivables, as well as advances and prepayments, have further impacted financial results.

The company's net operating cash flow per share (NOCFPS) stood at Tk 1.47 in FY24, down from Tk 1.69 in the previous year.

The board of the company recommended no dividend for the year ended June 30, 2024.

The company was listed on the bourses in 2009. In FY22, the company recommended a 0.25 percent cash dividend for its shareholders.