By Qudsia Bano

Fazal Cloth Mills Limited’s revenue increased 25% to Rs65.4 billion in the fiscal year 2021-22 from Rs52.13 billion in the earlier fiscal.

Similarly, the gross profit of the company grew 40% to Rs11.2 billion in FY22 from Rs8 billion in FY21.

The company’s net profit dipped to Rs4.6 billion in FY22 from Rs5.4 billion the year earlier, showing a negative growth of 15% year-on-year, reports WealthPK.

Performance in FY21

 During the financial year 2020-21, the company’s revenue surged to Rs52 billion from Rs39.7 billion in FY20, posting an increase of 31% year-on-year.  

The gross profit for FY21 stood at Rs8 billion, 76% up from Rs4.5 billion in FY20.

The profit-after-tax jumped to Rs5.4 billion, higher by a striking 1054% than a loss of Rs569 million in FY20.

Earnings Per Share

The earnings per share (EPS) of the company remained positive during the years 2018 and 2019, but turned negative in 2020 due to the Covid-19 pandemic. However, the EPS rocketed in 2021 before marginally falling in 2022.

Fazal Cloth Mills Limited was established in Pakistan in 1966 as a public limited company. The company's main business is the production and sale of yarn and fabric.

Credit : Independent News Pakistan-WealthPk