Board Meeting

The Meeting of the Board of Directors of the Company was held on Tuesday 18th April 2017 at 04:30 p.m. at its registered office to approve Un-Audited Statements of Accounts of the Company for the 3rd Quarter and nine months period ended March 31, 2017.

During the period under report, there was steep increase in the prices of raw material i.e. Cotton and Polyester Fiber without reciprocal increase in prices of Yarn. The Cost of other inputs like Salary, Wages, non-availability of system gas and high prices of RLNG fuel adversely affected the financial results of your Company. The Pre-tax Loss for the 3rd Quarter ending on March 31, 2017 was Rs.8,083,741/- which after providing the tax liability amounted to Rs.11,728,562/- and for the Nine Months period ending March 31, 2017 the Pre-tax Loss was Rs.22,331,224/- which after providing the tax liability amounted to Rs.30,271,524/-.

Your Directors hope that overall performance of the Company will improve in the remaining period of the current financial year to end on June 30, 2017.