Karachi: Al-Abbas Sugar Mills Limited has reported a substantial decrease in profits for the nine-month period and quarter ended June 30, 2026, as detailed in the company’s financial statement released on July 29, 2026. The board meeting, held in Karachi, concluded with no cash dividends, bonus shares, or right shares being recommended.

The company’s net turnover for the nine-month period dropped to 7.62 billion rupees from 12.43 billion rupees in the same period of the previous year, marking a very large or significant move. Cost of sales also declined to 5.82 billion rupees from 10.14 billion rupees, contributing to a gross profit of 1.80 billion rupees, down from 2.28 billion rupees last year.

Operating profit showed a significant decline, standing at 706.76 million rupees compared to 1.47 billion rupees in the previous year. The distribution costs increased considerably to 857.62 million rupees from 496.11 million rupees, while administrative expenses rose to 172.69 million rupees from 150.26 million rupees. Other operating expenses decreased to 62.38 million rupees from 170.99 million rupees. The finance cost was recorded at 116.83 million rupees, lower than last year's 196.56 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the company’s profit before taxation fell to 737.38 million rupees from 1.56 billion rupees, reflecting a very large or significant move. The taxation for the period was reduced to 184.70 million rupees from 474.62 million rupees, resulting in a profit after taxation of 552.68 million rupees, down from 1.08 billion rupees in the previous year.

For the quarter ended June 30, 2026, the company reported a net turnover of 3.06 billion rupees, a decline from 5.52 billion rupees in the same quarter of the previous year. The profit before taxation for the quarter was 246.60 million rupees, down from 721.36 million rupees, and profit after taxation was 181.18 million rupees, compared to 480.39 million rupees last year.

Earnings per share for the nine-month period stood at 31.83 rupees, while for the quarter, it was 10.44 rupees, both showing a decline from the previous year's figures. These financial results reflect the challenges faced by the company in the current market conditions.