Qudsia Bano

Yousaf Weaving Mills Limited, a textile company, has reported its six-month financial results ending December 31, 2022, showing significant year-on-year revenue growth of 75%.  According to results, the company managed to post a revenue of Rs626 million in 6MFY23 compared to Rs358 million in 6MFY22. The company also recorded a 19% increase in gross profit to Rs44.6 million in 6MFY23 from Rs37.5 million in 6MFY22.

However, the company’s profit margins suffered as it reported a net profit of Rs2.88 million in 6MFY23 compared to a net profit of Rs10.15 million in 6MFY22. The before-tax profit also dropped 27% to Rs10.7 million from the previous year’s Rs14.6 million. Despite the challenges in business environment, Yousaf Weaving Mills Limited is confident it will continue to achieve strong growth in the future as it is committed to quality and innovation in the textile industry, reports WealthPK.

Performance in 2021-22

The company has shown impressive growth in all key financial indicators, maintaining its position as a leading player in the market.According to its financial statement, the total revenue for the year ended June 30, 2022, stood at Rs1.24 billion, showing significant growth of 72% compared to the previous year’s revenue of Rs723 million. The gross profit for the year stood at Rs97.6 million, up 16% compared to the previous year’s Rs84 million.

Furthermore, the company reported a profit-before-tax of Rs37.97 million, showing an impressive 35% YoY growth over the previous year’s Rs28.1 million. The net profit for the year ended June 30, 2022, was Rs22.4 million, showing a growth of 30% over the previous year’s Rs17.2 million. The earnings per share (EPS) for the year ended June 30, 2022, were Rs0.25 compared to the previous year’s Rs0.19, posting a growth of 32%.

About the company

Yousaf Weaving Mills was incorporated on January 17, 1988, as a public limited company in Pakistan under the Companies Ordinance, 1984 (now the Companies Act, 2017). The company is engaged in the business of textile weaving, spinning and sale of processed fabric.

Credit: Independent News Pakistan-WealthPk