A statement said that the company posted net sales income of Rs. 8.7 billion and Rs. 25.4 billion for the quarter and nine months ended September 30, 2012 respectively which was 3% and 6% lower than same period last year.

It said that the operating result for the quarter and nine months at Rs. 521 million and Rs. 1,270 million were both 32% lower compared to same period last year.

Sharp reduction in margin over the feedstock prices as well as lower sales volume in the PSF Business with blend economics favoring cotton and significantly higher energy cost played a major role in dragging down the operating results, the statement added.

It said that EPS from continuing operations for the nine months ended September 30 2012 at Rs. 8.27 was lower by 20 percent compared to same period last year.