RUBY continues to grapple with economic distress, LC policy holdbacks
MG News | July 04, 2024 at 04:21 PM GMT+05:00
July 04, 2024 (MLN): The management of Ruby Textile Mills Limited (PSX: RUBY) is anxiously working on the foremost solution to initiate the operation, but unfortunately due to economic distress and held LC policies, the situation is becoming tougher.
The following were the company's reviews as highlighted in its progress report for the quarter ended June 30, 2024, issued to PSX today.
Furthermore, management is working on different feasibilities to improve the scenario and bring the business back on track.
The company incorporated back in October 1980 is engaged in the manufacturing and sale of yarn.
Regardless of the negative situation for the company, RUBY's share price settled today's session touching the upper cap limit of 1%.
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