Related Keywords: export oriented textile company, Pakistan textile sector, textile export
The Pakistani textile sector after performing well in the first half of the fiscal year with the appreciation in rupee by almost 6 percent against dollar in the third quarter of FY14 (Jan-Mar 2014), led to significant drop in profits of the export-oriented textile companies by 73 percent only in the third quarter of FY14.
This significant drop in profitability in the last quarter eroded the overall earnings of the textile sector for nine months. Textile sector recorded a decline of 9 percent in earnings during the nine months (July-March) of FY14.
