Nishat Mills Limited Reports Earnings Results for the Second Quarter Ended December 31, 2020
February 26, 2021 at 02:37 am EST
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Nishat Mills Limited announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced sales was PKR 24,490.919 million compared to PKR 24,442.115 million a year ago. Operating income was PKR 2,216.820 million compared to PKR 2,979.172 million a year ago. Net income was PKR 1,906.434 million compared to PKR 1,885.484 million a year ago. Basic earnings per share from continuing operations was PKR 5.42 compared to PKR 5.36 a year ago. For the half year, sales was PKR 50,045.866 million compared to PKR 49,919.501 million a year ago. Operating income was PKR 4,331.922 million compared to PKR 6,373.425 million a year ago. Net income was PKR 3,143.830 million compared to PKR 3,527.638 million a year ago. Basic earnings per share from continuing operations was PKR 8.94 compared to PKR 10.03 a year ago.
Nishat Mills Limited is a vertically integrated textile company. It is engaged in the business of textile manufacturing and of spinning, combing, weaving, bleaching, dyeing, printing, stitching, apparel, buying, selling, and dealing in yarn, linen, cloth and other goods and fabrics made from raw cotton, synthetic fiber, and cloth and to generate, accumulate, distribute, supply, and sell electricity. It operates through six segments: Spinning, Weaving, Dyeing, Home Textile and Terry, Garments, Power Generation, and Hotel. Its Spinning segment is engaged in producing different quality of yarn, including dyed yarn, and sewing thread using natural and artificial fibers. Its Weaving segment offers different qualities of greige fabric using yarn. Its Dyeing segment offers dyed fabric using different qualities of greige fabric. Its Home Textile and Terry segment offers home textile articles using processed fabric produced from greige fabric and manufacturing of terry and bath products.
NISHAT MILLS LIMITED 