Square Textiles Limited Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2023
May 10, 2023 at 01:29 am
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Square Textiles Limited reported earnings results for the third quarter and nine months ended March 31, 2023. For the third quarter, the company reported sales was BDT 3,115.54 million compared to BDT 4,998.31 million a year ago. Net income was BDT 257.7 million compared to BDT 487.72 million a year ago. Basic earnings per share from continuing operations was BDT 1.31 compared to BDT 2.47 a year ago.
For the nine months, sales was BDT 11,130.49 million compared to BDT 12,949.24 million a year ago. Net income was BDT 814.68 million compared to BDT 1,410.5 million a year ago. Basic earnings per share from continuing operations was BDT 4.13 compared to BDT 7.15 a year ago.
Square Textiles Limited is a Bangladesh-based company, which is engaged in the textile sector. The Company owns six units of spinning mills, and a twisting mill. Itâs activities and operations are related with manufacturing and marketing of Yarns. The Company operates in one segment of developing, manufacturing, and marketing of cotton/yarn for human, as well as industrial use. The Company has three units. Unit one has approximately 36,288 spindles with daily production capacity of 20,000 kilograms (kg). Unit two has approximately 23,184 spindles with daily production capacity of 12,000 kg, 768 rotors with daily production capacity of 8,000 kg. Unit three has approximately 3,192 open-end heads with a daily production capacity of 20,000 kg. Its factory is located in Sharadaganj, Kashimpur, Gazipur, Olipur, Habiganj and Sylhet.