In a letter to the Pakistan Stock Exchange on Thursday, Nishat Mills Limited, a publicly-listed company of Nishat Group, announced a consolidated after-tax profit of Rs9.65 billion for the full financial year 2019, an increase of 9.16 per cent from the Rs8.84 billion company made during FY2018.
The consolidated revenue of the company stood at Rs96 billion for the period under consideration against Rs84.7 billion in FY2018, according to the letter. The company also announced Earnings Per Share (EPS) of Rs22.20 for 2019, against Rs20.72 in 2018.
In its 9-month report earlier, the company attributed its better financial performance to the favorable rate variances both in export and local sales and rapid depreciation of Pak Rupee against the US Dollar.
Established in 1951, Nishat Mills Limited is one of the largest vertically integrated textile companies in the country. Its production facilities comprise of spinning, weaving, processing, stitching and power generation.