Lahore: Gulistan Spinning Mills Limited announced its financial results for the third quarter ended March 31, 2026, during a board meeting held at its Lahore office on April 28, 2026. The company’s financial disclosures reveal a notable turnaround in profitability despite ongoing financial hurdles.

The company reported a profit after taxation of Rs. 12,826,414 for the quarter ended March 31, 2026, compared to a loss of Rs. 6,504,075 in the corresponding period of the previous year. For the nine months ending March 31, 2026, the company posted a profit of Rs. 20,731,979, contrasting with a loss of Rs. 5,511,793 in the prior year. This represents a significant move in profitability for the period.

Despite the improvement in profitability, the board did not recommend any cash dividends, bonus shares, or right shares. According to the company’s unaudited condensed interim balance sheet, the cash and bank balances increased to Rs. 14,578,842 as of March 31, 2026, up from Rs. 8,527,114 as of June 30, 2025. The company’s total assets stood at Rs. 60,747,250, with liabilities totaling Rs. 1,727,151,661.

The company’s share capital and reserves reflect an unappropriated loss of Rs. 1,961,112,951, slightly improved from Rs. 1,981,844,930 as of June 30, 2025. The issued, subscribed, and paid-up share capital remained constant at Rs. 146,410,000, while the reserves were reported at Rs. 24,983,168.

According to information available from the Pakistan Stock Exchange (PSX), Gulistan Spinning Mills Limited’s financial performance showcases the company’s efforts to navigate through its financial obligations, including a principal payable of Rs. 1,046,040,654 and a mark-up payable of Rs. 397,535,999 to banking companies as per a scheme of arrangement.

In terms of income, the company reported other income totaling Rs. 13,695,763 for the quarter, contributing significantly to the overall profit from operations. Administrative expenses were recorded at Rs. 869,105 for the quarter, reflecting a focus on cost management.

Gulistan Spinning Mills Limited operates within the textile sector, which continues to face challenges amidst fluctuating market conditions and economic pressures. Despite these challenges, the company’s latest financial results indicate a positive shift in its operational performance.