KARACHI: Abdullah Shah Ghazi Sugar Mills Limited has reported a net loss of Rs192.08 million for the nine months ended June 30, 2026, compared with a loss of Rs175.90 million in the corresponding period last year, reflecting continued operational and financial challenges. The company disclosed its financial results following a meeting of its Board of Directors held on July 27, 2026.
According to the unaudited financial statements, the company posted a loss per share (LPS) of Rs2.42, compared with Rs2.22 recorded during the same period of the previous year. Despite receiving other income of Rs10.18 million, the company remained under pressure due to weak operational performance and significant finance costs.
During the nine-month period, Abdullah Shah Ghazi Sugar Mills generated sales of Rs162.41 million, substantially lower than Rs260.87 million recorded a year earlier. The decline in revenue contributed to an operating loss of Rs174.42 million, while finance costs stood at Rs101.48 million, resulting in a pre-tax loss of Rs265.72 million. A tax credit of Rs73.64 million partially offset the losses, leading to the final after-tax loss of Rs192.08 million.
For the third quarter alone (April–June 2026), the company reported a net loss of Rs42.93 million, an improvement from the Rs57.38 million loss recorded in the corresponding quarter of the previous year. Quarterly loss per share improved to Rs0.54 from Rs0.72.
The Board of Directors did not recommend any cash dividend, bonus shares, or right shares for shareholders, and confirmed that there was no other price-sensitive information to disclose.
On the balance sheet, the company reported cash and bank balances of Rs23.92 million as of June 30, 2026, while accumulated losses widened to Rs2.94 billion, highlighting the financial strain facing the sugar producer. Total assets stood at Rs3.25 billion.
The latest financial results indicate that Abdullah Shah Ghazi Sugar Mills continues to face significant challenges from declining sales, persistent operating losses, and high financing costs. While the quarterly loss narrowed compared to the same period last year, the company’s overall financial performance underscores the need for stronger operational recovery and improved profitability in the coming quarters.
