Textile mills in Bangladesh have registered moderate growth in terms of revenue during January-March quarter of this year on the back of increased demands and burgeoning rates of fabrics and yarn.
Media reports maintained this while adding that as per the financial statements of the major players in this sector like Matin Spinning Mills Limited, HR Textile Mills Limited, Argon Denims Limited, Malek Spinning Mills Limited, Square Textiles Limited and Envoy Textile Limited, some of these have clocked up to around 78 per cent growth in the said period.
As per the reports, Square Textiles enjoyed 60 per cent growth in revenue to Taka 396.04 crore during the January-March quarter, while Matin Spinning Mills Limited (a sister concern of DBL Group), reportedly, registered 24 per cent growth in revenue to Taka 125.25 crore in Q3 this year even as Group Managing Director of DBL, MA Jabbar on his part, reportedly, maintained that almost every spinner was enjoying the growth in revenue, and that they were making a handsome profit margin in the third quarter even as textile mill owners, reportedly, maintained that they stocked cotton during the pandemic as the prices were low while adding that the yarn market later rebounded and surged followed by the US ban of China’s cotton in January.
