Lahore: Haseeb Waqas Sugar Mills Limited has reported significant financial losses for the nine-month period ending June 30, 2025, according to a Directors' Review issued by the company. The company, which remained non-operational during the crushing season, registered a gross loss of 211.73 million rupees, a moderate move compared to the previous period's loss of 254.10 million rupees.

The interim accounts revealed that the net profit before tax stood at a loss of 222.01 million rupees, while the net loss after tax amounted to 150.12 million rupees. These figures represent a moderate move from the previous year's losses of 266.50 million rupees and 201.47 million rupees, respectively. The basic earnings per share recorded a big move with a shift from a loss of 6.22 rupees in 2024 to 4.63 rupees in the current period.

According to information available from the Pakistan Stock Exchange (PSX), Haseeb Waqas Sugar Mills did not engage in any production or sales activities during the reviewed period. The management has indicated efforts to secure funding to commence operations for the 2025-26 crushing season, expressing optimism about starting on time and reaching full operational capacity.

In its future outlook, the company management remains hopeful of maximizing crushing operations in the upcoming season. The Board of Directors has expressed gratitude towards stakeholders, including sugarcane growers, customers, shareholders, banks, and government departments, for their unwavering support and cooperation amidst ongoing challenges.

The company highlighted the dedication of its executives and employees, emphasizing their role in striving to meet corporate objectives despite financial hurdles. The acknowledgment underlines the company's commitment to navigating its current challenges with a focus on resuming operations and achieving financial stability.