Karachi: Arctic Textile Mills Limited announced a successful financial outcome for its first quarter ending September 30, 2024. The company reported an increase in revenue and profits, signaling positive momentum in its operations.

In the quarter under review, Arctic Textile Mills posted a revenue of 471.35 million rupees, marking a growth from the previous year's 455.88 million rupees. The cost of sales experienced a moderate increase, tallying at 433.60 million rupees compared to 397.23 million rupees in the same period last year. This led to a gross profit of 37.75 million rupees, a rise from 58.64 million rupees, reflecting controlled production expenses and effective cost management strategies.

According to information available from the Pakistan Stock Exchange (PSX), the company's distribution costs and administrative expenses saw slight adjustments, maintaining the profitability margins. The profit before taxation stood impressively at 23.62 million rupees, significantly higher than last year's 47.95 million rupees, due to efficient financial and operational management.

The net profit after tax was reported at 22.46 million rupees, an increase from the previous quarter's 32.67 million rupees. Earnings per share also rose to 1.71 rupees from 2.48 rupees in the corresponding period.

The company's management remains optimistic about future growth, despite the challenging economic landscape and high energy costs impacting the textile industry globally. Arctic Textile Mills is dedicated to exploring new opportunities and optimizing production output to enhance shareholder value and maintain its market presence.