Premier Sugar Mills & Distillery Company Limited has reported a net loss of Rs244.95 million for the nine months ended June 30, 2026, although the company recorded a significant increase in revenue compared to the corresponding period last year. The financial results were approved by the company’s Board of Directors on July 29, 2026.
According to the company’s unconsolidated financial statements, net sales surged to Rs2.99 billion, more than doubling from Rs1.44 billion recorded during the same period of the previous year. The strong improvement in sales helped lift the company’s gross profit to Rs259.08 million, compared with just Rs16.61 million a year earlier.
Despite the notable growth in revenue, Premier Sugar Mills remained in the red as higher distribution expenses, administrative costs, finance charges and tax levies continued to weigh on profitability. The company reported an operating loss of Rs102.08 million, while finance costs stood at Rs169.40 million during the nine-month period.
The company’s loss before taxation amounted to Rs308.98 million, compared with Rs408.10 million in the corresponding period last year, indicating an improvement despite remaining negative. Following deferred tax adjustments, the net loss after tax narrowed to Rs244.95 million, an improvement from the Rs322.87 million loss reported a year earlier.
Earnings per share (EPS) also improved, with the company posting a loss of Rs65.32 per share, compared with a loss of Rs86.10 per share during the same period of FY2025.
For the quarter ended June 30, 2026, Premier Sugar Mills reported net sales of Rs760.72 million, down from Rs913.86 million in the corresponding quarter last year. The company posted a quarterly net loss of Rs143.04 million, compared with a loss of Rs78.05 million in the same quarter of 2025, translating into a quarterly loss per share of Rs38.14.
On the balance sheet, total assets stood at Rs5.18 billion as of June 30, 2026, while shareholders’ equity declined to Rs1.04 billion from Rs1.29 billion at the end of September 2025 due to accumulated losses. Total liabilities increased to Rs4.14 billion, reflecting higher current obligations during the period.
The results indicate that while Premier Sugar Mills achieved a substantial recovery in sales and significantly improved its gross profitability, elevated financing costs and operating expenses continued to pressure the company’s bottom line. Sustained cost management and further improvements in operational efficiency will remain critical for the company to return to profitability.
