Tosrifa Industries bounces back into profit

Key financials:

• EPS was Tk0.36 in the July-March period
• Net profit was Tk2.39 crore
• NAV per share was Tk29.07 as of 31 March 2021
• Share price was Tk14.70 each on Sunday at the DSE

Tosrifa Industries Limited, an export-oriented readymade knit garments manufacturer, has returned to profit from big losses riding on an increase in sales in the January-March quarter. 

The net profit of the company stood at Tk0.90 crore in the third quarter of the 2020-21 fiscal year, up from a negative Tk12.30 crore in the same period of last year. 

In January-March this year, the company's earnings per share (EPS) was Tk0.14, which was Tk1.85 negative in the same period of the previous fiscal.

In the July-March period of the current fiscal year, the EPS was Tk0.36, which was Tk2.80 negative in the same period of the previous fiscal year.

During the period, the net profit was Tk2.39 crore, which was Tk18.58 crore negative in the same period of the previous year.

As of 31 March 2021, the net asset value per share of the company that got listed on stock exchanges in 2015, was Tk29.07.

The company operates an international standard industrial unit to carry on the business of knitting, dyeing, designing, manufacturing, and marketing readymade garments to deal in foreign markets. 

Tosrifa Industries, which has a paid-up capital of Tk66.33 crore, said during this period, EPS has surged due to an increase in sales and production volumes. 

The company has received more purchase orders from its clients amid the pandemic, which hit the sales and profit.

It did not recommend any dividend for its shareholders for the period ending on 30 June 2020.

The last trading share price at the Dhaka Stock Exchange was Tk14.70 each on Sunday.

As of 30 April this year, sponsors and directors jointly held 49.72%, institutional investors 25.09%, and general investors 25.19% shares of the company.