Pacific Denims Ltd, one of the leading apparel exporters in Bangladesh, logged a 66 percent year-on-year decline in profit in the October-December period of financial year 2023-24.

This brought the profit to Tk 27.86 lakh in the second quarter, down from the Tk 82.82 lakh posted in the identical quarter of 2022-23, according to the un-audited financial statement of the company.

Thus, the company's earnings per share (EPS) fell to Tk 0.02 from Tk 0.05.

The company pointed out an increase in the cost of raw materials, as well as, insufficient supply of gas for the decrease in profit, according to a filing on the Dhaka Stock Exchange (DSE).

In July-December of FY24, the apparel exporter reported a profit of Tk 1.06 crore, down 58 percent year-on-year from Tk 2.57 crore in the same period last year.

Shares of Pacific Denims increased 4.38 percent to Tk 14.30 on the DSE today.