According to the reports, 29 of the listed spinning and textile millers corporations increased profits, seven decreased profits, and nine lost money in the third quarter of the present fiscal year propelled by yarn price hike and revitalised apparel exports.
However, an increase in yarn and textile prices has paved the way of reaping the profits, said the insider.
Tamijuddin Textile, Envoy Textile, Simtex, Shasha Denim, Square Textile, Monno Fabrics and Maksons Spinning were some of the top benefit makers. Besides, Anlima Yarn, Evince Textile and Stylecraft counted losses, while they were in profit in the last year at the same time. The profits of Aman Cotton, Alhaj Textile, Delta Spinners, ML Dyeing and Rahim Textile declined in the third quarter of FY’22.