KARACHI: Gulshan Spinning Mills Limited has reported a reduced net loss for the third quarter ended March 31, 2026, reflecting an improvement in its financial performance compared to the same period last year, despite the absence of operating revenue. The company disclosed its latest financial results following a meeting of its Board of Directors held on April 28, 2026.
For the quarter ended March 31, 2026, the company posted a net loss after tax of Rs3.32 million, an improvement from the Rs4.71 million loss recorded in the corresponding quarter of the previous year. Consequently, the loss per share narrowed to Rs0.15, compared with Rs0.21 a year earlier.
For the nine-month period ended March 31, 2026, Gulshan Spinning Mills reported a cumulative net loss of Rs10.09 million, compared with a loss of Rs7.31 million in the same period last year. Loss per share for the nine months stood at Rs0.45, versus Rs0.33 in the corresponding period of 2025.
The company continued to report no sales revenue during both the quarter and the nine-month period. Administrative expenses remained the primary contributor to operating losses, although these expenses declined to Rs3.32 million during the quarter from Rs4.64 million in the same quarter last year. Other income amounted to Rs2,596 for the quarter and Rs11,882 for the nine-month period.
The Board of Directors announced that no cash dividend, bonus shares, or right shares would be issued for the period under review.
As of March 31, 2026, the company’s total assets stood at approximately Rs202.56 million, while accumulated losses increased to Rs3.75 billion, reflecting the continued financial challenges facing the company. The balance sheet also showed outstanding liabilities, including borrowings under a scheme of arrangement and loans from associates.
Despite ongoing losses, the reduction in quarterly administrative expenses helped narrow the company’s quarterly deficit. However, the absence of operating revenue continues to weigh heavily on Gulshan Spinning Mills’ financial performance, underscoring the need for operational revival or restructuring initiatives in the coming periods.
