Saif Textile Mills Limited Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2018
April 24, 2018
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Saif Textile Mills Limited announced unaudited earnings results for the third quarter and nine months ended March 31, 2018. For the quarter, the company reported sales of PKR 1,844,892,000 against PKR 1,807,670,000 a year ago. Profit from operations was PKR 121,916,000 against PKR 146,758,000 a year ago. Loss before taxation was PKR 7,676,000 against profit before taxation of PKR 59,599,000 a year ago. Loss after taxation was PKR 14,093,000 against profit after taxation of PKR 42,350,000 a year ago. Loss per basic and diluted share was PKR 0.53,000 against earnings per basic and diluted share of PKR 1.6,000 a year ago.
For the nine months, the company reported sales of PKR 5,644,662,000 against PKR 5,590,941,000 a year ago. Profit from operations was PKR 341,931,000 against PKR 336,145,000 a year ago. Profit before taxation was PKR 4,473,000 against PKR 84,014,000 a year ago. Profit after taxation was PKR 6,516,000 against PKR 35,644,000 a year ago. Earnings per basic and diluted share were PKR 0.25,000 against PKR 1.35,000 a year ago.
Saif Textile Mills Limited is a Pakistan-based company that is principally engaged in manufacture and sale of yarn. The Company offers a diverse range of product line for multiple end-uses, including denim, apparel, shirting, home textile and technical fabrics. Its products include accru yarn, dyed yarns, melange yarns, special yarns for knitting and weaving and surgical cotton. It delivers yarns that are fully palletized, as well as soft wound yarn on dye/ perforated plastic cones with the option of 4° 20' and 0° cylindrical cone angles. Surgical Cotton are being supplied to various local and international customers dealing with healthcare products. The dyed yarns include polyester/cotton, 100% spun polyester, bamboo, coolmax, acrylic, modal, tencel, viscose, and silk. The Company exports its products to Turkey, Poland, Germany, Geneva, Tajikistan, and Russia.