Pakistan’s leading textile exporter Interloop recorded a 115 per cent rise in profits amounting to to Rs 9.86 billion during the H1FY24 ending on December 31, 2024.

 The company's net sales surged by nearly 40 per cent to Rs 73.98 billion during the first half of the fiscal year 2024 (1HFY24), compared to Rs 52.92 billion in the preceding year. Interloop’s gross profit surged by 66 per cent to Rs 22.63 billion during the period. Consequently, the company's profit margin rose to 30.6 per cent, compared to 25.8 per cent in same period last year. 

However, operating expenses saw a significant rise of over 40 per cent Y-o-Y, totaling Rs 8.14 billion in 1HFY24. Notably, the company experienced exponential growth in 'other income,' reaching Rs 332.32 million in 1HFY24, compared to just Rs 15 million in same period last year. Conversely, the cost of finance increased to Rs 4.8 billion in 1HFY24, representing an 85 per cent surge due to significant increases in interest rates during the year.

As a result, the profit before tax increased by 107 per cent to Rs10.88 billion in 1HFY24, compared to Rs 5.26 billion in corresponding period last year.

Established in 1992, Interloop became listed on the country's stock exchange in 2019. The company operates as a vertically-integrated, multi-category firm manufacturing hosiery, denim, knitted apparel, activewear, and producing yarn for textile customers. It is one of the largest exporting firms in Pakistan and ranks among the largest listed companies on PSX.