Karachi: Nadeem Textile Mills Limited has reported a notable decline in its sales turnover for the nine-month period ending March 31, 2025. The company recorded a turnover of Rs. 4,361.19 million, a substantial decrease from Rs. 9,468.50 million in the same period last year. The net loss after tax increased to Rs. 648.72 million from Rs. 493.56 million in the previous year.

The company's chairman highlighted several challenges affecting the textile sector, including unfavorable government policies and a severe cotton crop crisis. Poor seed quality, limited adoption of modern farming techniques, and pest infestations have significantly reduced crop yields, increasing reliance on imported cotton. This has further strained the industry, along with high electricity and gas costs, rising raw material prices, and a slowdown in export orders.

According to information available from the Pakistan Stock Exchange (PSX), these challenges have adversely impacted Nadeem Textile Mills Limited's financial performance during the reviewed period. Despite these difficulties, the company's Board of Directors remains committed to maintaining high standards of corporate governance. The board, comprising nine members with diverse skills, continues to operate in compliance with the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance) Regulations, 2019.

The board is focusing on strategic planning, sound policymaking, efficient resource management, and operational oversight. Regular self-assessments are conducted to ensure decisions align with the company's objectives and long-term strategy. The chairman expressed gratitude to the employees, shareholders, customers, suppliers, bankers, and other stakeholders for their continued support and trust.