KARACHI: The Crescent Textile Mills Limited has returned to profitability during the first nine months of FY2026, posting a net profit of Rs24.24 million for the period ended March 31, 2026, compared with a net loss of Rs393.97 million recorded in the corresponding period last year.

According to the company’s unaudited financial results approved by its Board of Directors, earnings per share (EPS) improved to Rs0.24, reversing a loss per share of Rs3.94 in the same period of FY2025. The board did not recommend any cash dividend, bonus shares, right shares, or any other corporate action.

The company’s revenue from contracts with customers stood at Rs14.17 billion, slightly lower than Rs14.34 billion recorded a year earlier. Despite the marginal decline in sales, Crescent Textile improved its gross profit to Rs1.55 billion, up from Rs1.35 billion, reflecting stronger operational efficiency and better cost management.

Operating profit also strengthened during the period, rising to Rs820.04 million from Rs716.72 million in the same period last year. A significant reduction in finance costs, which fell to Rs630.95 million from Rs933.23 million, played a key role in the company’s return to profitability.

For the third quarter alone, the company reported a net profit of Rs6.58 million, compared with a loss of Rs92.02 million in the corresponding quarter of FY2025. Quarterly earnings per share improved to Rs0.07, versus a loss per share of Rs0.92 a year earlier.

In addition to its earnings performance, Crescent Textile recorded other comprehensive income of Rs266.52 million, primarily driven by gains on the remeasurement of investments at fair value. This lifted the company’s total comprehensive income for the nine-month period to Rs290.77 million, compared with a comprehensive loss of Rs141.26 million in the same period last year.

The company’s financial position also remained stable, with total equity increasing to Rs13.03 billion as of March 31, 2026, compared with Rs12.74 billion at the end of June 2025. Total assets stood at Rs26.07 billion, while long-term financing declined, reflecting continued debt reduction efforts.

The results indicate that Crescent Textile Mills has successfully recovered from last year’s losses through improved operational performance and lower financing expenses, positioning the company on a stronger financial footing for the remainder of the fiscal year.