Lahore: Haseeb Waqas Sugar Mills Limited (PSX: HWQS) has reported an improvement in its financial performance for the nine months ended June 30, 2026, as the company narrowed its net loss compared to the corresponding period last year, according to its latest condensed interim financial results approved by the Board of Directors.
The company posted a net loss after taxation of Rs143.94 million for the nine-month period, improving from a loss of Rs150.12 million recorded in the same period of the previous year. This translated into a loss per share (LPS) of Rs4.44, compared with Rs4.63 a year earlier.
For the third quarter alone, Haseeb Waqas Sugar Mills reported a net loss of Rs65.96 million, significantly higher than the Rs37.24 million loss recorded in the corresponding quarter last year. Quarterly loss per share stood at Rs2.04, compared with Rs1.15 in the same quarter of FY2025.
The financial statements show that the company continued to operate without generating net sales during the reporting period, while the cost of goods sold amounted to Rs197.67 million, resulting in a gross loss. Administrative and general expenses totaled Rs10.42 million, although the company recorded other operating income of Rs1.25 million, which partially offset operating losses.
On the balance sheet, total assets declined to approximately Rs5.65 billion as of June 30, 2026, from Rs5.85 billion at the end of September 2025. Property, plant and equipment remained the company’s largest asset, while accumulated losses continued to weigh on shareholders’ equity. Cash and bank balances stood at Rs1.53 million at the end of the reporting period.
The Board of Directors approved the third-quarter financial results at its meeting held on July 30, 2026, and stated that the quarterly report would be submitted through the relevant regulatory channels within the prescribed timeframe.
Despite continued losses, the latest results indicate a modest improvement in the company’s cumulative performance over the nine-month period compared with the previous year. Going forward, investors are expected to closely monitor Haseeb Waqas Sugar Mills’ operational performance and its ability to restore sustainable production and profitability.
