Dacca Dyeing & Manufacturing Co Ltd has revealed a staggering 344 per cent year-on-year rise in losses for the fiscal year ending 30th June 2024, largely due to the disruption of its gas supply by Titas. The company reported a loss of Taka 22.48 crore, resulting in a loss per share that surged to Taka 2.58, up from Taka 0.58 the previous year, as stated on the Dhaka Stock Exchange (DSE) website.
During midday trading, Dacca Dyeing’s shares experienced a decline of 2.38 per cent, falling to Taka 12.3. The company cited a significant decrease in turnover as a major contributor to its financial struggles. Additionally, the rise in provisions for doubtful debts related to receivables, as well as advances and prepayments, has negatively impacted its overall financial situation.
The net operating cash flow per share (NOCFPS) also saw a drop, decreasing to Taka 1.47 in FY ’24 from Taka 1.69 the year prior. As a result of these ongoing financial difficulties, the company’s board has decided not to declare any dividends for the fiscal year ending 30th June 2024.
