Ring Shine Textiles reported a decline in its financial performance for the October–December quarter of 2024, as the company’s losses deepened year-on-year.
The company’s earnings per share (EPS) stood at Tk 0.71 in the negative for October–December 2024, down from Tk 0.55 in the negative in the corresponding quarter of 2023.
For the six months from July to December 2024, its EPS fell further to Tk 1.50 in the negative, compared to Tk 1.41 in the negative in the same period of 2023, according to a filing on the Dhaka Stock Exchange website.
The yarn and fabric manufacturer’s net operating cash flow per share also worsened, standing at Tk 0.90 in the negative for July–December 2024, compared to Tk 0.36 in the negative in the same period of the previous year, indicating higher cash outflows in operations.
Meanwhile, the company’s net asset value per share dropped to Tk 9.50 in the negative as of December 31, 2024, from Tk 8.03 in the negative on June 30, 2024.
Ring Shine, a struggling textile manufacturer, has been facing financial challenges for years. The company, once a major player in the textile industry, has seen its operations weaken amid mounting losses and liquidity concerns.
