KARACHI: Ashfaq Textile Mills Limited reported a loss for the quarter ended March 31, 2026, as declining sales and higher production costs weighed on the company’s financial performance. The Board of Directors also announced that no cash dividend, bonus shares, or right shares would be issued for the period.
According to the company’s financial results, quarterly sales fell to Rs88.99 million, down from Rs106.72 million in the corresponding quarter of last year. The decline in revenue, coupled with the cost of goods sold exceeding sales, resulted in a gross loss of Rs2.41 million, compared with a gross profit of Rs20.97 million recorded a year earlier. The financial results are presented on page 2 of the filing.
The company posted a net loss of Rs11.27 million for the January–March 2026 quarter, compared with a net profit of Rs12.24 million in the same period last year. Basic loss per share stood at Rs0.24, versus earnings per share of Rs0.26 a year earlier.
For the nine-month period ended March 31, 2026, Ashfaq Textile Mills recorded sales of Rs373.01 million, compared with Rs336.02 million during the corresponding period last year. Despite higher cumulative sales, the company reported a net loss of Rs10.22 million, reversing from a net profit of Rs2.17 million in the same period of the previous year. Earnings per share for the nine-month period came in at a loss of Rs0.22, compared with earnings of Rs0.05 per share last year.
The Board of Directors confirmed that it had not recommended any interim cash dividend, bonus issue, rights issue, or other corporate action for the quarter ended March 31, 2026. The company also stated that there was no other price-sensitive information to disclose. These decisions are outlined in the board resolution on page 1 of the filing.
The condensed balance sheet shows the company’s total assets at Rs1.24 billion as of March 31, 2026, while shareholders’ equity stood at approximately Rs988.28 million. Cash and bank balances increased to Rs75.22 million, reflecting an improvement in liquidity despite the reported loss. The balance sheet and cash flow statement are provided on pages 3 and 5 of the report.
