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Sapphire Textile Mills witnesses 56% YoY jump in net profits during FY20

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September 25, 2020 (MLN): Sapphire Textile Mills Limited (SAPT) witnessed 56% YoY increase in net profits for FY20 to Rs 7.86 billion compared to the profits of Rs 5 billion reported in FY19.

 The earnings per share of the company also exhibited an increase of 38% YoY to Rs 245.36 as apposed to Rs 178.24 last year.

During the year, Company’s net turnover increased from Rs.49.6 billion to Rs.52.96 billion, depicting a growth of 7% YoY, while its cost of goods sold exhibited a marginal growth, accordingly, the gross profit margin of the company surged to 32% from 28% last year.

The increased profitability can be attributed to rationalization of energy prices for the export-oriented industry, currency adjustment, and Company’s continued emphasis on vertical integration and growth in sale of value-added products.

The increase in interest rates during FY20 remained a challenge for SAPT due to high cost of borrowing for working capital. The finance of the company increased to Rs.6 billion representing 11% of sales from Rs.4.97 billion representing 10% of sales in FY19.

Consolidated Profit and Loss Account for the Year ended June 30, 2020 (Rupees)




% Change

Net turnover




Cost of Sales




Gross Profit




Distribution Cost




Administrative Cost




Other Operating Expenses




Other Income








Profit from Operations




Finance Cost




Share of profit of associated companies




Profit before Taxation








Profit after Taxation




Earnings per share- basic and diluted





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Posted on: 2020-09-25T11:06:00+05:00