Maqbool Textile Mills Limited reported a substantial loss for the nine-month period ended March 31, 2026, as difficult business conditions, rising production costs, and ongoing challenges in the textile sector weighed heavily on its financial performance.
According to the company’s latest unaudited financial statements, Maqbool Textile Mills posted a net loss of Rs1.23 billion during the nine months under review, more than double the loss of Rs596.36 million recorded in the corresponding period last year. The company also reported a quarterly loss of Rs1.03 billion for the third quarter ended March 31, 2026.
Despite a slight increase in revenue, which rose to Rs5.98 billion from Rs5.90 billion a year earlier, the company struggled with significantly higher production costs. Cost of goods sold surged to Rs6.81 billion, resulting in a gross loss of Rs824.98 million compared to a gross profit of Rs103.15 million in the same period last year.
The company’s directors noted that the business environment remained extremely challenging throughout the period. In their review, management highlighted that turmoil in Gulf markets adversely affected operations, while the availability of raw materials remained a major concern. These factors contributed significantly to the deterioration in financial performance.
Finance costs remained a major burden, although they declined to Rs267.40 million from Rs443.71 million in the previous year. Nevertheless, the company recorded a loss before taxation of Rs1.29 billion for the nine-month period.
On the balance sheet side, total assets stood at Rs6.86 billion as of March 31, 2026, compared to Rs9.02 billion at the end of June 2025. Shareholders’ equity also declined sharply to Rs618.50 million from Rs1.58 billion, reflecting the impact of accumulated losses during the period.
Management stated that efforts are underway to improve performance during the remaining months of the financial year ending June 30, 2026. The company expressed optimism that ongoing measures aimed at operational improvement and cost management would help stabilize results in the coming quarters.
