Business Report :
Aman Cotton Fibrous Ltd reported a 91 percent year-on-year decline in losses in January-March 2024.
The loss stood at Tk 60.49 lakh in the third quarter of the financial year, down significantly from Tk 6.95 crore. As a result, the loss per share declined to Tk 0.06 from Tk 0.69.
In a filing on the Dhaka Stock Exchange, the yarn manufacturer attributed an 11.13 percent price decline of raw cotton, the key production material, and a 3.4 percent increase in carded yarn sales for the fall in losses.
However, Aman Cotton’s net operating cash flow per share (NOCFPS) fell to Tk 0.30 in the first nine months of FY24. It was Tk 6.38 in the same period of 2022-23.
The company’s rising payments to suppliers, employees and others contributed to the decline in the NOCFPS, according to the unaudited financial statements.
Aman Cotton was incorporated in 2005. Currently, it manufactures cotton yarn, including a 100 percent cotton carded, combed and semi-combed ring spun grey yarn for knitting as well as weaving.