Thanks to increase in the prices of raw materials and costs rising in several operational segments, Alhaj Textile Mills (Alhaj Textile Mills is a listed textile maker in Bangladesh) suffered losses in the July-December period of fiscal year 2022-23.
This is as per reports, which maintained in sharp contrast to the profit of Taka 25.72 lakh that it made in the July-December period of fiscal year 2021-22, in the corresponding period of the fiscal year 2022-23, it incurred a loss of Taka 11.22 lakh.
Reports further added that the cost of raw materials accounted for 95 per cent of Alhaj Textile Mills’ total sales in the July-December period of 2022-23, compared to 86 per cent in the same period of the previous year.
Its wage and allowance costs rose alongside factory overhead expenses, the company said in its financial report.