KARACHI: Crescent Fibres Limited has announced its financial results for the quarter and nine months ended March 31, 2026, reporting an improvement in profitability despite continued operational challenges. The company’s Board of Directors approved the results at its meeting held on April 28, 2026, and did not recommend any cash dividend, bonus shares, or right shares.

For the third quarter ended March 31, 2026, Crescent Fibres posted a net loss of Rs95.32 million, an improvement from the Rs107.19 million loss recorded in the corresponding quarter last year. Loss per share also improved to Rs7.68, compared with Rs8.63 a year earlier.

During the nine-month period, the company’s net sales declined to Rs2.76 billion from Rs3.74 billion in the same period of the previous year. Despite lower revenue, Crescent Fibres managed to reduce its net loss to Rs348.80 million, compared with Rs468.70 million in the corresponding period of FY2025. Consequently, the loss per share improved to Rs28.09 from Rs37.74.

The financial statements show that gross loss narrowed to Rs89.21 million from Rs162.70 million last year. The company also benefited from lower finance costs, which declined to Rs107.62 million from Rs166.72 million, helping reduce the overall loss before taxation.

On the balance sheet, total assets increased to Rs6.22 billion as of March 31, 2026, compared with Rs6.00 billion at the end of June 2025. Shareholders’ equity also strengthened, rising to Rs3.78 billion from Rs3.22 billion, largely supported by a surplus on the revaluation of property, plant, and equipment.

The company’s cash flow position also improved, with cash and cash equivalents increasing to Rs54.31 million at the end of March 2026 from Rs41.94 million at the beginning of the period. Net cash generated from operating activities reached Rs181.91 million, reflecting stronger operational cash generation despite continued losses.

While Crescent Fibres remains in the red, the latest results indicate a meaningful reduction in losses and improved financial stability. The company’s lower finance costs, improved operating cash flows, and stronger equity position suggest progress toward strengthening its financial performance amid a challenging business environment.