Indus Dyeing & Manufacturing Company Limited (IDYM) reported a profit after tax of Rs411.46 million for the nine months ended March 31, 2026, reflecting a decline of 22.3% compared to Rs529.43 million recorded in the corresponding period last year, despite posting growth in revenue. The company also announced that its Board of Management has recommended no cash dividend for the period.
According to the company’s financial results, revenue from contracts with customers increased by 1.5% to Rs51.84 billion during the nine-month period, compared to Rs51.05 billion in the same period of FY2025. Gross profit improved by 16.2% to Rs2.93 billion, supported by a slight improvement in margins. Other income also surged to Rs734.64 million from Rs388.48 million a year earlier.
However, profitability remained under pressure due to higher finance costs and increased levies. Finance costs rose by 11.5% to Rs1.33 billion, while levies climbed to Rs627.91 million from Rs510.57 million in the corresponding period last year. As a result, profit before taxation stood at Rs625.89 million, compared with Rs261.99 million in the same period of FY2025.
For the third quarter alone, the company reported a net loss of Rs160.89 million, compared to a profit of Rs423.51 million in the corresponding quarter last year. Earnings per share (EPS) for the nine-month period declined to Rs7.59 from Rs9.76 previously, while quarterly EPS came in at a loss of Rs2.97 per share versus earnings of Rs7.81 per share a year earlier.
On the balance sheet side, total assets increased to Rs57.74 billion as of March 31, 2026, compared to Rs49.16 billion at the end of June 2025. The increase was mainly driven by higher trade debts, other financial assets, and tax refundable balances. Meanwhile, short-term borrowings rose significantly to Rs21.53 billion from Rs13.24 billion, indicating increased reliance on working capital financing.
The company’s reserves increased to Rs24.18 billion from Rs23.77 billion at the start of the fiscal year, while total equity reached Rs24.73 billion. Despite revenue growth and improved gross profitability, rising financing costs and sector-specific levies continued to weigh on the company’s bottom line during the period.
