Monday, October 2, 2023

Interloop Posted Highest Ever Profit of Over Rs. 20 Billion in FY23

Interloop Limited, a prominent textile and garments exporter, has achieved a historic financial milestone in the fiscal year 2022-23 by reporting an unprecedented profit of Rs. 20.2 billion. This remarkable achievement not only reflects the company’s robust financial performance but also highlights its substantial contribution to Pakistan’s economy.

According to Arif Habib Limited, this profit is the largest ever reported for the same period, showing an impressive 63.2% increase compared to the Rs. 12.3 billion earned in the previous year.

In FY23, the company’s Earnings per Share (EPS) surged from Rs. 8.82 to Rs. 14.39, showcasing remarkable growth. Interloop Limited’s commitment to its shareholders is evident through the declaration of a final cash dividend of Rs. 2 per share, in addition to the earlier interim cash dividend of Rs. 3 per share (30%).

The company’s stellar financial performance is further substantiated by its sales growth of 31.1%, reaching Rs. 119.2 billion. Despite challenges such as rising cotton prices and currency depreciation, Interloop Limited’s resilience shines through, as does its strategic adaptability in a competitive market.

The positive stock performance, marked by a 4.86% increase and trading volume of 2,662,918 shares, underscores the company’s enduring value and investor confidence.

Interloop Limited’s robust financial performance in FY23, marked by significant EPS growth and impressive sales, showcases its resilience and strategic adaptability in a challenging market. The company’s commitment to shareholders through generous dividends and its positive stock performance underscore its enduring value.

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