KARACHI: Artistic Denim Mills Limited (PSX: ADMM) reported a wider net loss for the nine months ended March 31, 2026, as declining sales and higher finance costs continued to pressure the company’s financial performance. The board of directors also announced that it would not recommend any cash dividend, bonus shares, right shares, or any other corporate entitlement for the period.
According to the company’s condensed interim financial statements, net turnover fell to Rs. 10.36 billion during the nine-month period, compared with Rs. 13.92 billion in the corresponding period last year, reflecting a significant decline in revenue. Despite lower sales, the company maintained a gross profit of Rs. 761.46 million, down from Rs. 930.32 million a year earlier.
Operating profit also weakened, declining to Rs. 287.57 million from Rs. 473.40 million recorded in the same period last year. The company’s financial performance was further impacted by finance costs, which increased to Rs. 613.67 million, compared with Rs. 512.51 million in the previous year’s corresponding period.
As a result, Artistic Denim Mills posted a net loss of Rs. 432.34 million, considerably higher than the Rs. 222.40 million loss reported during the same period last year. Loss per share also widened to Rs. 5.15, compared with Rs. 2.65 a year earlier.
For the quarter ended March 31, 2026, the company generated net sales of Rs. 2.89 billion, while reporting a quarterly net loss of Rs. 138.10 million, compared with a loss of Rs. 237.84 million in the corresponding quarter of the previous year, indicating some sequential improvement despite ongoing challenges.
On the balance sheet, total assets stood at Rs. 23.42 billion as of March 31, 2026, compared with Rs. 24.49 billion at the end of June 2025. Total equity declined to Rs. 7.24 billion, reflecting the impact of accumulated losses during the period.
The company informed the Pakistan Stock Exchange that its board approved the financial results without announcing any dividend or other corporate action. The complete nine-month report will be disseminated separately through the PUCARS platform within the prescribed timeframe.
