Paramount Textile’s profit jumps 10pc

Business Desk :

Paramount Textile PLC, a textile firm listed on the stock exchanges, has announced a robust 10 per cent increase in its consolidated net profit for the third quarter of the 2024-25 fiscal year, ending March.

The company’s net profit reached Tk96.40 crore, up from Tk87.50 crore recorded during the same period in the previous fiscal year.

As per its price-sensitive information published in a newspaper, during the January to March period of FY25, its consolidated EPS increased to Tk5.22, which was Tk4.64 in the same period of the previous fiscal year.

During the Q3, its net asset value (NAV) also increased by 12.36 per cent to Tk763.40 crore, up from Tk679.42 crore in the January to March period of FY24.

According to its audited report, its revenue in the third quarter increased by Tk134 crore or 16.57 per cent to Tk943.81 crore. While its profit from operation increased by 48 per cent to Tk202.30 crore.

Its finance costs surged to Tk105.64 crore, up from Tk80.87 crore in the same period of the previous fiscal year.

In FY24, it made a profit of Tk107.77 crore with EPS of Tk6.62. It paid a 5 per cent cash and 10 per cent stock dividend to its shareholders.

Paramount Textile was listed on the bourses, raising funds in 2013. As of May this year, sponsor-directors held the majority stake with 60.95 per cent of shares, while institutional investors accounted for 12.44 per cent, foreign investors held 4.33 per cent, and general investors possessed 22.28 per cent of the company’s shares, according to data from the Dhaka Stock Exchange (DSE).