Gul Ahmed Textile Mills (GATM): Earnings up 66% higher than expectations

Karachi, February 25, 2021: Gul Ahmed Textile (GATM) announced unconsolidated earnings of Rs1.2 billion (EPS: Rs2.73) for 2QFY21, up 66 percent YoY due to increase in revenues by 32 percent YoY and other income by 12x YoY. Earnings in 1HFY21 is also up by 65 percent YoY to Rs1.8 billion (EPS: Rs4.13). Alongside results, the company…