Karachi: Jubilee Spinning & Weaving Mills Limited has reported a net loss for the nine-month period ended March 31, 2026, as declining revenue and elevated operating expenses weighed on the company’s financial performance. The results were approved by the company’s Board of Directors in a meeting held on April 29, 2026.
According to the company’s unaudited financial statements, Jubilee Spinning & Weaving Mills recorded a net loss after tax of Rs1.65 million during the first nine months of FY2026, compared to a net profit of Rs13.99 million in the corresponding period last year. This translated into a loss per share (LPS) of Rs0.05, versus earnings per share (EPS) of Rs0.43 a year earlier.
The company’s revenue declined significantly to Rs8.94 million from Rs11.50 million in the same period of FY2025. Gross profit also fell sharply to Rs2.38 million, reflecting the challenging business environment faced by the textile sector.
Administrative and general expenses remained high at Rs55.75 million, putting additional pressure on profitability. However, Jubilee generated other income of Rs63.98 million, which helped offset a substantial portion of the operating expenses. Despite this support, the company was unable to maintain profitability as higher taxation further impacted the bottom line.
For the third quarter alone, the company posted a net loss of Rs0.55 million, compared with a profit of Rs4.90 million in the corresponding quarter of the previous year, indicating continued pressure on earnings.
On the balance sheet, Jubilee’s total assets stood at Rs1.35 billion as of March 31, 2026, remaining broadly stable compared to the previous financial year-end. Meanwhile, total equity increased slightly to Rs1.16 billion, supported by fair value adjustments despite the reported loss during the period.
The company’s cash flow statement showed net cash used in operating activities of Rs57.05 million, while strong inflows from investing activities—primarily rental income—helped improve the cash position. Cash and cash equivalents increased to Rs6.74 million at the end of March 2026 from Rs4.12 million at the beginning of the period.
Pakistan’s textile industry continues to face challenges, including subdued demand, rising production costs, and margin pressures. Jubilee Spinning & Weaving Mills’ latest results reflect the difficult operating environment, although recurring rental income and prudent asset management continue to provide some financial stability. Investors will be watching the company’s performance closely in the coming quarters for signs of a sustained recovery.
