Gul Ahmed announces 67% growth in quarterly profit

Gul Ahmed announces 67% growth in quarterly profit

KARACHI: Gul Ahmed Textile Mills Ltd. (GATM) on Friday declared over 67 per cent growth in after tax profit for the quarter ended September 30, 2021.

According to the financial results shared with the Pakistan Stock Exchange, the textile unit declared Rs1.167 billion as profit after tax for the first quarter (July – September) 2021 as compared with profit after tax of Rs697 million in the same quarter of the last fiscal year.

The company declared earnings per share at Rs2.73 for the period under review as compared with Rs1.63 in the same period of the last fiscal year.

The sales of the company increased to Rs24.64 billion during the quarter ended September 30, 2021 as compared with Rs20.32 billion in the same quarter of the last year.

The textile unit declared gross profit at Rs5.04 billion for July-September 2021 as compared with Rs3.69 billion in the corresponding period of the last fiscal year.

The board of directors of Gul Ahmed Textile Mills Limited in its meeting held on October 28, 2021 approved the financial results. The board has not recommended any cash dividend, bonus shares or right shares.

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