Pakistani denim supplier and yarn manufacturer Azgard9, based in Lahore, has reported a 6.5% decrease in net sales for the year ended June 30.

The business brought in approximately $115 million (31.57 Pakistani rupees) over the 12 months, compared to $120 million or 33.76 rupees in fiscal 2022. Its spinning unit on Alipur Road in Muzaffargarh was sold for $2.6 million or 719 million rupees sold during the period, with the amount still receivable as of June 30.

Company chairman, Zahid Mahmood, congratulated the management team on achieving profit growth of 112% year on year after tax, bringing in $5.3 million or 1.47 billion rupees, despite global macroeconomic challenges and a shortage in raw materials.

Share this story: