KARACHI: Textile maker Interloop Ltd reported on Friday earnings of Rs2.7bn in the July-September quarter, up 99.2pc from a year ago.
The company grew its revenue about 50pc on a yearly basis to Rs19.3bn mainly because of rising global demand coupled with an export-conducive environment, said a note by Insight Securities.
Gross margins clocked in at 29pc as opposed to 24pc in the same period last year, indicating that the company was able to pass on cost pressures to consumers along with better pricing.
Other expenses grew 178pc on account of a loss in forward swaps. Finance costs grew 60pc year-on-year as the company increased its debt portion in the last fiscal year.
Its share price increased 0.67pc to Rs73.42 on Friday.
Published in Dawn, October 16th, 2021
