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 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X