Anlima Yarn shares face correction after quarterly disclosure

Anlima Yarn Dyeing Ltd faced the highest scrip-wise price correction on Tuesday at the Dhaka Stock Exchange (DSE) after disclosing its financials for the October to December quarter of the current 2021-22 fiscal year.

Its stock price fell 6.1% to Tk38.5 per share compared to the previous session. 

According to the company's disclosure on the DSE website on Tuesday, the net loss per share of the company stood at Tk0.08 for the second quarter of the current fiscal.

As per the company's unaudited financial statements, from October to December 2021, Anlima Yarn's net loss reduced 44% to Tk15 lakh from Tk27 lakh in the July to September quarter. 

Despite the decrease in losses, its share price faced massive correction. 

But in the six months from July to December, the company's net loss stood at Tk41 lakh, which was Tk30 lakh in profit during the same period of the previous fiscal.

During the period, its net revenue was Tk7.69 crore, loss per share Tk0.23, and net asset value per share Tk10.29.

Company Secretary Mohammad Jahangir Alam said the company did not get many orders during the period but the management is working on improving the business.

He declined to comment any further in this regard.

Anlima Yarn Dyeing Ltd owns and operates a 100% export-oriented yarn and sewing thread dyeing facility. It markets sewing thread and provides yarn dyeing services to different knitting, weaving, and garments factories. 

The company recommended a 2% cash dividend for general shareholders excluding directors for the year that ended on 30 June 2021.

It was listed on the capital market in 1997.