Lahore: Haseeb Waqas Sugar Mills Limited has announced its financial results for the half-year ending on March 31, 2025. The company witnessed a significant financial downturn, reflecting ongoing challenges in its operations and market conditions.

The company's financial statement, published as part of the Directors' Review, disclosed a gross loss of Rs. 140.77 million for the period, compared to a previous loss of Rs. 172.01 million in the same period of 2024. The net profit before tax stood at a loss of Rs. 147.83 million, while the net loss after tax amounted to Rs. 112.87 million. Basic earnings per share were reported at a negative Rs. 3.48, an improvement from the negative Rs. 6.90 reported previously.

According to information available from the Pakistan Stock Exchange (PSX), the absence of production activity has been a critical factor in these results. The company has not engaged in production for several years, further impacting its financial performance.

Despite these financial setbacks, the management remains optimistic about the future. The company is hopeful of participating in the 2025-26 crushing season and aims to operate at maximum capacity. This optimism is part of a broader strategy to navigate the challenging market environment and restore profitability.

The Board of Directors expressed their gratitude to stakeholders including sugarcane growers, customers, shareholders, banks, and government departments for their continued support. They also acknowledged the dedication and teamwork of the company's executives, employees, and workers, which they believe will be integral to achieving future corporate objectives.