Home / Knowledge / News / Textiles / Pakistan textile firms' book Rs 8.9bn profits in Q3
Pakistan textile firms' book Rs 8.9bn profits in Q3
03
Jun '13
Indicative of a 7 percent quarter-on-quarter hike, Pakistani textile firms booked Pk Rs. 8.9 billion in profits during January-March this year, indicating a growth of 180 percent year-on-year.
 
According to The Nation report, the joint profits of the textile firms for the first three quarters of the ongoing fiscal year grew to Rs. 23 billion, against profit of Rs. 4.5 billion earned during the corresponding period of the previous fiscal.
 
Industry circles say the expanded profit margins are attributable to low-cost financing and a constant fall in the value of Pakistani rupee, while the cotton prices remain firm in the midst of strong regional demand.
 
If the positivity persists, the textile sector would continue to gain even in the coming months, the report says.
 
Further, textile exports would get a boost if the expected GSP Plus status is granted to the country by the EU.
 
During the first ten months of the current fiscal beginning July 1, 2013, Pakistan’s textile exports grew by 6.1 percent in dollar terms to US$ 10.7 billion, and shot up by 15.5 percent in rupee terms to Rs. 1 trillion.
 
The rise in exports was due to good demand from regional markets like China and firm international cotton and textile prices.
 
The rise in exports is a rebound for the textile sector, which witnessed a 9 percent dip in exports to US$ 12.4 billion, during last fiscal.
 
Product-wise, textile yarn exports surged by 26 percent to US$ 1.85 billion during 2012-13, while readymade garment and grey cloth exports grew by 12 percent and 11 percent to US$ 1.5 billion and US$ 2.2 billion, respectively.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search