Interloop has announced record profit in 2023.   One of  pakistan's largest textile exporters saw its profit jump by 115% during the second half of 2023.    the textile giant's net sales surged by nearly   40% to Rs73.98 billion compared to Rs52.92 billion recorded in the prior year.     Interloop saw its gross profit surging to Rs22.63 billion in 1HFY24, up 66%. Consequently, the company’s profit margin increased to 30.6%, as compared to 25.8% in SPLY.           Its  cost of finance ballooned to Rs4.8 billion in 1HFY24, an increase of 85%. The increase comes as interest rates increased significantly during the year.   The company is a vertically-integrated, multi-category company that manufactures hosiery, denim, knitted apparel and activewear. In addition, it produces yarn for textile customers. It is also one of the largest exporting firms in Pakistan and among the largest listed companies on PSX.    All of its plants are located in the province of Punjab. (ICE ISLAMABAD)

Fonte notizia: business recorder