trending Market Intelligence /marketintelligence/en/news-insights/trending/9mfagJxN_vKze1C84waBDA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Shams Textile Mills fiscal Q4 loss narrows YOY

Blog

ESG hits the mainstream for European private equity sponsors

Blog

What’s the Bottom Line: Credit Impact of COVID-19 on US Municipals

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcast

Episode 1: Origins of 451 Research - Part 1


Shams Textile Mills fiscal Q4 loss narrows YOY

Shams Textile Mills Ltd. said its normalized net income for the fiscal fourth quarter ended June 30 came to a loss of 1.24 Pakistani rupees per share, compared with a loss of 2.57 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 10.7 million rupees, compared with a loss of 22.2 million rupees in the year-earlier period.

The normalized profit margin rose to negative 2.1% from negative 2.3% in the year-earlier period.

Total revenue decreased 46.3% on an annual basis to 510.7 million rupees from 950.4 million rupees, and total operating expenses fell 47.1% year over year to 515.5 million rupees from 974.9 million rupees.

Reported net income came to a loss of 18.8 million rupees, or a loss of 2.17 rupees per share, compared to a loss of 25.7 million rupees, or a loss of 2.97 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 6.29 rupees per share, compared with a loss of 2.37 rupees per share in the prior year.

Normalized net income was a loss of 54.4 million rupees, compared with a loss of 20.4 million rupees in the prior year.

Full-year total revenue decreased 29.5% from the prior-year period to 2.80 billion rupees from 3.97 billion rupees, and total operating expenses decreased 27.7% on an annual basis to 2.85 billion rupees from 3.94 billion rupees.

The company said reported net income totaled a loss of 111.1 million rupees, or a loss of 12.86 rupees per share, in the full year, compared with a loss of 53.1 million rupees, or a loss of 6.15 rupees per share, the prior year.

As of Oct. 11, US$1 was equivalent to 104.58 Pakistani rupees.