Business Report :
HR Textile Mills incurred a record loss of Tk57 crore in the fiscal 2023-24, representing a loss of Tk19.67 per share. Owing to the substantial losses, the 100per cent export-oriented knitting, dyeing, finishing, and garments manufacturer decided not to pay any dividends to its shareholders.
According to data from the Dhaka Stock Exchange (DSE), over the last nine fiscal years, from 2014-15 to 2022-23, the textile sector firm paid dividends ranging from 15per cent to 5per cent, in both cash and stock. As an immediate effect, HR Textile’s share fell 5.96per cent on Tuesday to Tk26.80 each.
An analysis of its four-quarter financials reveals that the company managed to make a profit only in the first quarter, from July to September 2023.
