Karachi: Gulistan Spinning Mills Limited has posted a turnaround in its financial performance for the third quarter ended March 31, 2026, returning to profitability after reporting losses in the corresponding period last year. The company attributed its improved results primarily to higher other income and reversal of provisions, while no dividend or bonus shares were announced.
According to the financial results approved by the company’s Board of Directors, Gulistan Spinning Mills recorded a profit after tax of Rs12.83 million during the quarter, compared with a loss of Rs6.50 million in the same quarter of the previous year. Earnings per share (EPS) stood at Rs0.88, reversing from a loss per share of Rs0.44 a year earlier.
For the nine-month period ended March 31, 2026, the company earned a net profit of Rs20.73 million, compared with a net loss of Rs5.51 million in the corresponding period of FY2025. Cumulative earnings per share improved to Rs1.42, versus a loss per share of Rs0.38 recorded during the same period last year.
The quarterly results indicate that the company’s profitability was driven largely by other income and reversal of provisions amounting to Rs13.70 million in the third quarter, while administrative expenses remained at Rs0.87 million. For the nine-month period, other income reached Rs21.71 million, helping offset operating expenses and finance costs.
The board did not recommend any cash dividend, bonus shares, or right shares for shareholders along with the announcement of the third-quarter results.
The company’s balance sheet showed cash and bank balances increasing to Rs14.58 million as of March 31, 2026, compared with Rs8.53 million at the end of June 2025, reflecting improved liquidity during the reporting period. Net cash generated from operating activities also turned positive at Rs6.05 million, compared with a net operating cash outflow in the corresponding period last year.
Despite the return to profitability, Gulistan Spinning Mills continues to carry a significant accumulated loss on its balance sheet. However, the latest quarterly performance marks a notable improvement and signals a positive shift in the company’s financial position as it progresses through FY2026.
