Square Textiles PLC showcased the financial results for the year ended 30th June 2024, during its 29th Annual General Meeting held virtually on 18th December 2024. The meeting, presided over by Chairman Tapan Chowdhury, highlighted a significant increase in the company’s turnover and profits, reflecting a robust performance in the textile sector.
The company reported a turnover of Taka 18.93 billion, marking a remarkable growth of 26.45 per cent compared to the previous year. Gross profit also saw a notable increase, rising by 24.45 per cent to reach Taka 2.33 billion. Net profit after tax grew modestly by 0.98 per cent, totaling Taka 1.08 billion for the fiscal year.
In addition to its strong financial performance, Square Textiles made a substantial contribution of Taka 264.93 million to the National Exchequer, underscoring its commitment to supporting the economy. The Board of Directors acknowledged the dedication of its officers, staff, and workers, whose efforts played a crucial role in optimizing the company’s profitability.
During the AGM, shareholders engaged in discussions about the company’s performance and future expansion plans. The Directors expressed their gratitude for the continued support from stakeholders, including the Bangladesh Securities and Exchange Commission and various public and private sector agencies.
