Kohinoor Textile Mills Limited (KTML) registered a profit after tax (PAT) of Rs9.19 billion for the fiscal year ended June 30, 2023, an increase of over 72% compared to Rs5.33 billion recorded in the same period of the previous year, showed the company’s financial results posted at the Pakistan Stock Exchange (PSX) on Monday.
The profit translates in to Earnings Per Share (EPS) of Rs21.55 in FY23, in comparison to an EPS of Rs12.93 recorded in the same period last year.
The increase in profits comes in contrast to the ongoing decline plaguing the country’s textile sector.
Earlier this month, a delegation from the All Pakistan Textile Mills Association held a crucial meeting with Dr Gohar Ejaz, the Caretaker Federal Minister for Commerce and Industries and Production.
During the meeting, the delegation engaged in a comprehensive discussion with the minister regarding the critical issues plaguing the textile industry. One of the major issues highlighted by the delegation was the energy tariff, which they emphasised should be regionally competitive to ensure the sustainable operation of textile mills and to effectively compete in the global market.