Allawasaya Textile & Finishing Mills Limited announced unaudited earnings results for the third quarter and nine months ended March 31, 2012. For the nine months, sales were PKR 1,491,087,745 compared to PKR 1,640,079,764 for the same period a year ago. Profit before taxation was PKR 20,764,848 compared to PKR 82,554,415 for the same period a year ago. Profit after taxation was PKR 5,853,971 compared to PKR 53,660,370 for the same period a year ago. Earnings per share, basic and diluted were PKR 7.32 compared to PKR 67.08 for the same period a year ago. Net cash used in operating activities was PKR 141,256,230 compared to PKR 127,942,058 for the same period a year ago. Addition to property, plant and equipment was PKR 2,797,250 compared to PKR 57,839,915 for the same period a year ago. For the quarter, sales were PKR 486,170,017 compared to PKR 704,823,754 for the same period a year ago. Profit before taxation was PKR 8,169,775 compared to PKR 50,056,733 for the same period a year ago. Profit after taxation was PKR 3,308,075 compared to PKR 30,515,248 for the same period a year ago. Earnings per share, basic and diluted were PKR 4.14 compared to PKR 38.14 for the same period a year ago. The comparable decrease in profit for the period under report is mainly due to fall in prices of Cotton and Yarn in the local as well as International Markets. This substantially decreased the value of inventory of Cotton as well as Yarn brought forward from the previous year. The company provided earnings guidance for the year ending June 30, 2012. The company expects to achieve better financial results for the remaining period of the current financial year to end on June 30, 2012.