Al-Abid Silk Mills Limited Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2018
April 25, 2018
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Al-Abid Silk Mills Limited announced unaudited earnings results for the third quarter and nine months ended March 31, 2018. For the quarter, the company reported loss from operation of PKR 171,561,153 against PKR 88,700,266 a year ago. Loss before taxation was PKR 171,564,331 against PKR 88,700,266 a year ago. Profit after taxation was PKR 8,714,302 or PKR 0.65 per basic and diluted share against loss of PKR 89,832,332 or PKR 6.70 per basic and diluted share a year ago.
For nine months, the company reported loss from operation of PKR 255,108,213 against PKR 233,795,586 a year ago. Loss before taxation was PKR 255,111,391 against PKR 233,797,085 a year ago. Loss after taxation was PKR 49,680,018 or PKR 3.70 per basic and diluted share against PKR 238,934,667 or PKR 17.82 per basic and diluted share a year ago.
Al-Abid Silk Mills Limited is a manufacturer of home textile products. The Company is principally engaged in manufacturing and processing of various kinds of fabrics and export of printed and dyed cloth, bed sets, and other textile made-ups. The Company's product catalog includes bed linen, curtains, table linen, kitchen linen, furnishings. The Company provides a range of fabric, such as pure cotton, polyester-cotton, sateen, flannel, percale, jersey, voile, jacquard, dobby, and many others. The Companyâs production facilities have a capacity of printing approximately 4.5 million meters per month and dyeing approximately 2.5 million meters per month. It operates modem back coating and flocking plants with products, such as black out curtains, acrylic coated and flocked fabric for a specialized niche market. All its production facilities are adapted for printing, dyeing, and finishing for jersey and man-made fibers. The manufacturing facilities of the Company are located in Karachi.
AL-ABID SILK MILLS LIMITED 
