Nishat Mills Limited Reports Earnings Results for the Third Quarter Ended March 31, 2020
April 29, 2020 at 07:20 am EDT
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Nishat Mills Limited announced earnings results for the third quarter ended March 31, 2020. For the third quarter, the company announced sales was PKR 23,341.028 million compared to PKR 23,583.187 million a year ago. Operating income was PKR 3,062.101 million compared to PKR 2,762.485 million a year ago. Net income was PKR 1,416.143 million compared to PKR 1,876.402 million a year ago. Basic earnings per share was PKR 4.03 compared to PKR 5.34 a year ago. For the nine months, sales was PKR 73,260.529 million compared to PKR 70,277.201 million a year ago. Operating income was PKR 9,435.526 million compared to PKR 8,506.835 million a year ago. Net income was PKR 4,943.781 million compared to PKR 5,689.076 million a year ago. Basic earnings per share was PKR 14.06 compared to PKR 16.18 a year ago.
Nishat Mills Limited is a vertically integrated textile company. It is engaged in the business of textile manufacturing and of spinning, combing, weaving, bleaching, dyeing, printing, stitching, apparel, buying, selling, and dealing in yarn, linen, cloth and other goods and fabrics made from raw cotton, synthetic fiber, and cloth and to generate, accumulate, distribute, supply, and sell electricity. It operates through six segments: Spinning, Weaving, Dyeing, Home Textile and Terry, Garments, Power Generation, and Hotel. Its Spinning segment is engaged in producing different quality of yarn, including dyed yarn, and sewing thread using natural and artificial fibers. Its Weaving segment offers different qualities of greige fabric using yarn. Its Dyeing segment offers dyed fabric using different qualities of greige fabric. Its Home Textile and Terry segment offers home textile articles using processed fabric produced from greige fabric and manufacturing of terry and bath products.
NISHAT MILLS LIMITED 
