Karachi: Gulistan Textile Mills Limited has reported an improvement in its financial performance for the third quarter and nine months ended March 31, 2026, with losses narrowing significantly compared to the corresponding period last year. The company’s Board of Directors approved the unaudited financial results in its meeting held on April 28, 2026.

For the quarter ended March 31, 2026, the company posted a net loss of Rs7.37 million, a substantial improvement from the Rs28.77 million loss recorded in the same quarter of the previous year. Earnings per share (EPS) also improved to a loss of Rs0.39 per share, compared with a loss of Rs1.52 per share in the corresponding quarter of FY2025. The improvement was supported by a rise in other operating income and a significant reduction in operating expenses.

During the nine-month period ended March 31, 2026, Gulistan Textile Mills reported a net loss of Rs24.87 million, nearly half of the Rs44.58 million loss recorded during the same period last year. The company’s nine-month loss per share improved to Rs1.31, compared with Rs2.35 a year earlier.

The company generated Rs17.10 million in other operating income during the first nine months of FY2026, compared with Rs0.97 million in the corresponding period last year. Administrative expenses declined to Rs6.84 million from Rs5.63 million, while other operating expenses were reduced to Rs34.48 million from Rs39.91 million, contributing to the overall improvement in profitability.

On the balance sheet, total assets increased marginally to Rs443.37 million as of March 31, 2026, from Rs441.41 million at the end of June 2025. Cash and bank balances also improved to Rs26.49 million, reflecting positive operating cash generation during the period.

Despite the improvement in financial performance, the Board did not recommend any cash dividend, bonus shares, or right shares for shareholders for the period under review.

The latest results indicate that while Gulistan Textile Mills continues to operate at a loss, the company has made meaningful progress in reducing losses through tighter cost management and stronger operating income, suggesting gradual improvement in its financial position.