Paramount Textile has reported a significant decline in profit for the first quarter of FY ’25, with earnings dropping by 20 per cent year-on-year. The company’s profit for the July-September period stood at Taka 19.16 crore, down from Taka 23.95 crore in the same quarter last year.
The decline in earnings per share (EPS) was evident, falling to Taka 1.07 compared to Taka 1.34 a year earlier, according to a disclosure made on the Dhaka Stock Exchange (DSE) website. Paramount Textile attributed this downturn to the closure of operations at one of its associated companies and escalating finance costs.
Despite the profit slump, there was a silver lining as the company reported an increase in consolidated net operating cash flow per share (NOCFPS), which rose to Taka 1.67 from Taka 1.35 in the same period last year. This improvement was attributed to strong cash generation from a subsidiary and reduced operating expenses relative to revenue.
In response to the financial news, shares of Paramount Textile fell by 1.27 per cent during mid-day trading on the DSE, with the stock priced at Taka 46.6.
