trending Market Intelligence /marketintelligence/en/news-insights/trending/f4lJr6gJlFfg92RPmuoJOg2 content esgSubNav
In This List

Ashfaq Textile Mills fiscal Q1 profit falls YOY

Podcast

Next in Tech | Episode 168: AI Data Strategies

Podcast

Street Talk | Episode 126: Hunting the bears, making the bull case for CRE

Blog

Investment Banking Essentials May 15

Video

Panel Discussion: Modernization Initiatives Advancing the U.S. Capital Market


Ashfaq Textile Mills fiscal Q1 profit falls YOY

Ashfaq Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 3 Pakistani paisa per share, a decrease of 88.1% from 26 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million rupees, a decline of 87.3% from 9.0 million rupees in the year-earlier period.

The normalized profit margin declined to 1.3% from 5.8% in the year-earlier period.

Total revenue decreased 45.0% on an annual basis to 85.4 million rupees from 155.4 million rupees, and total operating expenses decreased 39.1% on an annual basis to 83.5 million rupees from 137.0 million rupees.

Reported net income fell 91.0% on an annual basis to 1.1 million rupees, or 3 paisa per share, from 12.3 million rupees, or 35 paisa per share.

As of Oct. 29, US$1 was equivalent to 103.05 Pakistani rupees.