Two of Alif Group's listed textile firms have posted higher profits in the first quarter of the current fiscal year with their sales having increased compared to the last fiscal.
Alif Manufacturing Company posted a 14% gain, and Alif Industries posted a 12% increase in net profit for the July-September period of this fiscal compared to the same time period in the previous fiscal year.
Alif Manufacturing produces cotton yarn of different counts. The company's net profits rose to Tk3.82 crore in this fiscal's July-September quarter from Tk3.35 crore in the same period of the previous fiscal.
Its earnings per share (EPS) stood at Tk0.15 in the first quarter of this fiscal, which was Tk0.13 in the same period of the previous year.
The company's net asset value increased to Tk372.09 crore in September 2021, which was Tk364.56 crore in June 2021.
Mahfuzur Rahman, company secretary of Alif Manufacturing, told The Business Standard, "The company's business has bounced back from its position in the previous year. As sales increased over the last year, so has the company's net profit increased."
The core business of Alif Industries is to produce 100% export-oriented knit garments. In the July-September period this year, its net profits rose to Tk1.63 crore from Tk1.46 crore and EPS went to Tk0.37 from Tk0.33 in the same period of the previous year.
The company's net asset value increased to Tk97.51 crore in September 2021, which was Tk95.86 crore in June 2021.
In FY21, Alif Industries' net profits rose 42% to Tk6.41 crore, which was Tk4.51 crore in the previous fiscal. It recommended a 10% cash dividend for its shareholders for that fiscal.