Sapphire Textile Mills Limited’s revenue climbed 55% to Rs43.1 billion in the first nine months of the fiscal year that ended on June 30, 2022, compared with Rs27.8 billion in the corresponding period of the earlier fiscal.
Similarly, the gross profit of the company more than doubled to Rs9.3 billion during the 9MFY22 compared to Rs4.3 billion in the corresponding period the year prior, registering a growth of 117%.
The net income also increased by a huge 154% to Rs5.2 billion from Rs2 billion during the two periods being compared, reports WealthPK.
As of June 30, 2021, directors, chief executive officers, their spouses and minor children owned 40.35% shares of the company.
Associated companies held 30.97% shares, NIT and ICP owned 4.62% shares, insurance companies 0.05%, other companies 1.41%, and general public (local) held 22.59% shares of the company, respectively.
Annual Results 2020-21
During the fiscal year 2020-21, the company also maintained a healthy sales trend, generating revenues of Rs38.5 billion over Rs34 billion in 2019-20, showing a growth of 13%.
The gross profit for FY21 stood at Rs6.35 billion, 31% up from Rs4.8 billion the previous year.
The after-tax profit surged to Rs3.2 billion in FY21 from Rs1.18 billion in FY20, posting an increase of 177% year-on-year.
Earnings Per Share
The earnings per share (EPS) in 2019 stood at Rs121.31, but dropped to Rs55.03 in 2020. However, in FY21, the EPS jumped to Rs150.44 and took a massive leap to Rs323.45 in FY22.
Sapphire Textile Mills Limited was established as a public limited company in Pakistan on March 11, 1969.
The company's main business activities include the production and marketing of yarn, fabrics and household textile items. It also finishes, stitches and prints textiles.
Credit : Independent News Pakistan-WealthPk