Gul Ahmed incurs losses of Rs 625 million during FY20

07:01
September 28, 2020
MG

September 28, 2020 (MLN): Gul Ahmed Textile Mills has reported losses of Rs. 625.7 million (LPS: 1.46) for the Financial Year 2020, as opposed to the earnings of Rs. 3.6 billion recorded last year.

The decline in profitability was a clear outcome of lower sales, which fell by 5.5% during the year. This led to gross profits decreasing by 24%.

Where no substantial changes were observed in the major expense heads, the other operating expense showed a decline of 15.3%. On the other hand, the non-core income plummeted by 68.5%, further straining the financial position of the company.

There was also a 36.7% increase in the finance cost owing to higher interest rates and short-term borrowings by the company.

Consolidated Financial Results for the year ended June 30, 2020 (Rupees'000)
	Jun-20	Jun-19	% Change
Sales – net	55,932,658	59,189,652	-5.5%
Cost of sales	(46,262,397)	(46,431,611)	-0.4%
Gross Profit	9,670,261	12,758,041	-24.2%
Distribution cost	(4,680,482)	(4,889,571)	-4.3%
Administrative expenses	(3,261,931)	(3,191,519)	2.2%
Other operating cost	(264,192)	(311,783)	-15.3%
Other income	367,679	1,167,995	-68.5%
Finance cost	(2,054,273)	(1,502,649)	36.7%
(Loss)/profit before taxation	(222,938)	4,030,514
Taxation	(402,824)	(400,282)	0.6%
(Loss)/profit after taxation	(625,762)	3,630,232
(Loss)/earnings per share	-1.46	8.49

Copyright Mettis Link News

Posted on: 2020-09-28T12:01:00+05:00

37148

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PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.20000	278.40000	278.40000	278.20000	01:03 PM
2	EUR	1.06690	1.06720	1.06720	1.06690	06:02 PM
3	GBP	1.23680	1.23700	1.23700	1.23680	06:02 PM
4	CHF	0.91030	0.91070	0.91070	0.91030	06:02 PM
5	JPY	154.62000	154.63000	154.63000	154.62000	06:02 PM
6	CAD	1.37970	1.38020	1.38020	1.37970	06:02 PM
7	AUD	0.64140	0.64180	0.64180	0.64140	06:02 PM
8	INR	83.37020	83.37070	83.37070	83.37020	05:00 PM
9	SAR	3.75120	3.75170	3.75170	3.75120	02:27 AM
10	AED	3.67210	3.67310	3.67310	3.67210	11:59 PM
11	HKD	7.83130	7.83140	7.83140	7.83130	06:02 PM
12	CNH	7.23884	7.23892	7.23892	7.23884	05:00 PM
13	CNY	7.24030	7.24040	7.24040	7.24030	07:10 PM
14	THB	36.80000	36.82000	36.82000	36.80000	05:04 PM
15	MYR	4.78150	4.78650	4.78650	4.78150	12:29 PM
16	IDR	16,210.30000	16,226.20000	16,226.20000	16,210.30000	06:02 PM
17	SGD	1.36080	1.36180	1.36180	1.36080	06:02 PM
18	NZD	0.58850	0.58910	0.58910	0.58850	06:02 PM
19	MXN	17.08550	17.11550	17.11550	17.08550	06:02 PM
20	TRY	32.48060	32.49060	32.49060	32.48060	05:04 PM
21	SEK	10.89960	10.92770	10.92770	10.89960	06:02 PM
22	ZAR	18.77030	19.81930	19.81933	18.77031	06:02 PM
23	NOK	11.01490	11.02090	11.02090	11.01490	06:02 PM
24	DKK	7.00130	7.00230	7.00230	7.00130	06:02 PM
25	ARS	870.10300	870.11100	870.11115	870.10271	06:02 PM
26	BDT	108.06500	111.44600	111.44612	108.06470	07:19 AM
27	BHD	0.37700	0.37710	0.37710	0.37700	08:32 PM
28	BRL	5.20200	5.20500	5.20500	5.20200	06:02 PM
29	KRW	1,373.58000	1,375.41000	1,375.41000	1,373.58000	06:02 PM
30	KWD	0.30836	0.30846	0.30846	0.30836	01:56 AM
31	LKR	298.75800	305.33300	305.33326	298.75827	07:19 AM
32	OMR	0.38498	0.38515	0.38515	0.38498	01:57 AM
33	QAR	3.64600	3.64900	3.64900	3.64600	01:59 AM
34	RUB	93.20000	94.60000	94.60000	93.20000	12:48 PM
35	AFN	71.00000	73.00000	73.00000	71.00000	11:05 AM
36	AZN	1.70000	1.70000	1.70000	1.70000	06:27 AM
37	TMT	3.36000	3.66000	3.66000	3.36000	12:29 PM
38	MVR	15.25000	15.65000	15.65000	15.25000	12:35 PM
39	UZS	12,670.00000	12,740.00000	12,740.00000	12,670.00000	01:07 PM
40	PHP	57.45800	57.68800	57.68800	57.45800	05:00 PM
42	NGN	1,149.00000	1,153.00000	1,153.00000	1,149.00000	12:36 PM
43	KES	133.00000	134.00000	134.00000	133.00000	12:10 PM
44	AMD	392.60000	392.60000	392.60000	392.60000	07:55 AM
45	TWD	32.53300	32.53900	32.53900	32.53300	06:02 PM
46	XAU	2,390.01000	2,391.71000	2,391.71000	2,390.01000	06:02 PM
47	XAG	28.65580	28.68580	28.68580	28.65580	06:02 PM
48	XPT	931.58700	937.31300	937.31280	931.58720	02:00 AM
49	XPD	1,026.51000	1,034.34000	1,034.33590	1,026.50920	02:00 AM
2,120	VES	36.25120	36.34210	36.34210	36.25125	12:29 PM
2,212	UGX	3,768.41000	3,852.95000	3,852.94560	3,768.40998	07:19 AM
2,213	TZS	2,591.49000	2,591.51000	2,591.51500	2,591.48500	11:41 AM

Data is delayed by 20 minutes

EQUITY

Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	70,968.98	70,909.904	70,186.93	619.785	0.882	214,724,945.0	13,651,927,649.760	19/04/2024 05:13 PM
ALLSHR	46,573.62	46,547.234	46,105.96	339.379	0.735	475,634,499.0	23,214,193,723.360	19/04/2024 05:13 PM
KSE30	23,393.38	23,376.569	23,058.97	282.759	1.224	116,554,680.0	11,831,374,214.290	19/04/2024 05:13 PM
KMI30	118,779.97	118,572.725	117,247.45	1,218.125	1.038	148,956,005.0	11,119,881,421.450	19/04/2024 05:13 PM
KMIALLSHR	33,051.27	33,022.390	32,695.54	298.524	0.912	317,804,569.0	19,951,289,708.390	19/04/2024 05:13 PM
BKTi	17,861.34	17,826.912	17,489.40	244.864	1.393	16,782,769.0	1,601,100,031.210	19/04/2024 05:13 PM
OGTi	16,766.60	16,652.098	16,435.08	192.159	1.167	13,610,174.0	1,842,349,761.040	19/04/2024 05:13 PM

Data is delayed by 20 minutes

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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,150.0	65,640.0	59,635.0	490.00
BRENT CRUDE	EB	87.4	90.8	86.2	0.27
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-6.15
ROTTERDAM COAL MONTHLY	ET	120.0	0.0	0.0	-0.35
USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	82.1	85.6	81.1	0.01
SUGAR #11 WORLD	SB	19.6	19.8	19.3	0.03

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