Bangladesh, Nov. 5 -- Matin Spinning Mills' first-quarter profit more than doubled year-on-year to Tk 245 million in the July-September quarter, supported by higher sales volume, improved selling prices and a lower tax rate.

Advertisement The textile manufacturer registered more than 32 per cent growth in sales revenue to Tk 2.94 billion during the quarter, according to a stock exchange filing on Wednesday.

Sales volume rose to 6,256 tonnes in the quarter from 5,267 tonnes in the same quarter last year, while the average selling price increased to $3.82 per kg from $3.44 a Kg, the company said in its disclosure.

However, the higher revenue came with pressure on margins. The cost of sales, largely comprising raw material expenses, incr...