Lahore: Mubarak Textile Mills Limited has reported a narrowed pre-tax loss for the quarter ended September 30, 2024, according to a statement issued by the company. The Lahore-based textile firm recorded a loss of Rs. 0.137 million before taxation, an improvement from the Rs. 0.663 million loss reported in the same quarter of the previous year.

The directors of Mubarak Textile Mills disclosed these figures in their latest director's review, highlighting significant challenges including a tight liquidity position, ongoing energy crises, and unfavorable conditions in the knitwear industry. According to information available from the Pakistan Stock Exchange (PSX), the management is exploring the manufacturing of knitwear on a conversion basis as a potential solution to make the project viable despite the increase in energy prices and other infrastructure costs.

The report also acknowledged the efforts and cooperation of the company's labor and management, which have maintained warm and cordial relations throughout the period. Furthermore, gratitude was extended to the company's bankers and financial institutions for their ongoing support during these challenging times.