Kohinoor Spinning Mills Posts Rs83 Million Nine-Month Loss Despite Higher Sales

KARACHI: Kohinoor Spinning Mills Limited has reported a net loss of Rs83.90 million for the nine-month period ended March 31, 2026, reflecting continued operational challenges despite a rise in sales during the period. The financial results were approved by the company’s Board of Directors in its meeting held on April 29, 2026.

According to the company’s unaudited financial statements, net sales stood at Rs18.38 million for the nine months ended March 31, 2026, generating a gross profit of Rs2.69 million. However, substantial administrative and operating expenses continued to weigh on profitability, resulting in an operating loss of Rs116.16 million.

The company recorded other operating income of Rs32.49 million, which partially offset the losses, while finance costs remained minimal at Rs5,074. Consequently, the loss before taxation was reported at Rs83.67 million, compared with a loss of Rs108.20 million in the corresponding period last year. After accounting for taxation, the net loss narrowed to Rs83.90 million, translating into a loss per share (LPS) of Rs0.19, compared with Rs0.26 in the same period of the previous year.

For the third quarter alone, the company posted sales of Rs7.50 million and a net loss of Rs22.10 million, compared with a quarterly loss of Rs44.18 million in the corresponding quarter of the previous year, indicating an improvement in quarterly performance.

On the balance sheet, Kohinoor Spinning Mills reported total assets of approximately Rs3.83 billion as of March 31, 2026, while equity stood at Rs121.63 million. The company also generated Rs200.82 million in net cash from financing activities, largely supported by an increase in long-term loans from directors, helping maintain liquidity during the period.

The Board of Directors did not recommend any cash dividend, bonus shares, or right shares for the period. The company stated that its complete third-quarter financial report will be disseminated through the Pakistan Unified Corporate Action Reporting System (PUCARS) in accordance with regulatory requirements.