Gul Ahmed Textile declares 4-time increase in net profit during nine months

Gul Ahmed Textile declares 4-time increase in net profit during nine months

KARACHI: Gul Ahmed Textile Mills Ltd. (GATM) on Wednesday declared unprecedented four-time growth in after tax profit for the nine-month period ended March 31, 2021.

According to the financial results, the textile unit declared Rs3.45 billion as profit after tax for the period July – March 2020/2021 as compared with profit after tax of Rs699 million in the same period of the last fiscal year.

The company declared earnings per share at Rs8.08 for the period under review as compared with Rs1.64 in the same period of the last fiscal year.

The sales of the company increased to Rs63.57 billion during the nine-month period ended March 31, 2021 as compared with Rs44.89 billion in the same period of the last year.

The textile unit declared gross profit at Rs12.3 billion for first nine months of the current fiscal year as compared with Rs8.12 billion in the corresponding period of the last fiscal year.

Gul Ahmed Textile Mills Limited announced an interim cash dividend for the nine months ended March 31, 2021 at Re1 per share i.e. 10 percent. It also declared bonus share in proportion of one share of every five shares held i.e. 20 percent.

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