Volume: 6 Issue 2 [February 2023]

Article:Comparative Analysis of the Financial Performance of the Textile Industry in Pakistan between before and during Covid-19 Pandemic

Author: Faisal Mahmood, Andi Wijayanto, Widiartanto, Bilal Naseer Khan

Volume: Vol 6, Issue 2; February 2023

DOI: North American Academic Research, 6(2) 219-227 February 2023, https://doi.org/10.5281/zenodo.7768659

Abstract: This research aims to evaluate the financial performance of Pakistani textile firms before and during the Covid-19 epidemic. Firms’ performance was measured using Return on Equity (ROE) and Return on Assets (ROA). Purposive sampling was used to identify fourteen textile companies, and data was gathered from financial state-ments, annual reports, and the Pakistan Stock Exchange (PSX). The Wilcoxon Signed Rank test was used for ROA and the Paired Sample t-test was for ROE. While some companies, such as Azgard Nine Limited, AN Textile Mills, and Ahmad Hassan Textile Mills, grew during the epidemic, others on the PSX declined. The results reveal a signif-icant difference in the financial performance of Pakistan's textile firms before and during the Covid-19 pandemic, as evaluated by the ROA and ROE.

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