Karachi: Dewan Khalid Textile Mills Limited has reported ongoing financial struggles as detailed in their financial results for the third quarter ended March 31, 2025. The company held a board meeting on August 20, 2026, where it was announced that no cash dividends, bonus shares, right shares, or any other corporate actions would be distributed to shareholders. This decision highlights the company's ongoing financial challenges.
The un-audited financial results for the nine months and third quarter ended March 31, 2025, reveal significant losses. For the nine months ending March 31, 2025, the company reported a gross loss of 22.32 million rupees, compared to a previous loss of 24.06 million rupees during the same period last year. The quarterly loss for January to March 2025 was recorded at 6.61 million rupees, showing a reduction from 7.97 million rupees in the same quarter of the previous year. Operating losses for the nine months reached 26.73 million rupees, a moderate move from the previous year’s loss of 28.60 million rupees. The quarter's operating loss also decreased to 7.03 million rupees from 8.72 million rupees.
Finance costs saw a decrease, with the nine-month cost recorded at 1,731 rupees, down significantly from 11.32 million rupees in the previous year. Quarterly finance costs also witnessed a drop to 1,170 rupees compared to 6.63 million rupees last year. However, no other income was reported for the current period, a shift from the 3.32 million rupees recorded last year.
According to information available from the Pakistan Stock Exchange (PSX), Dewan Khalid Textile Mills reported a loss after taxation for the nine-month period of 24.07 million rupees, indicating a very large or significant move from the 33.58 million rupees loss reported in the previous year. The quarterly loss after taxation also demonstrated a similar trend, with a reported loss of 6.14 million rupees compared to 13.56 million rupees last year. Basic and diluted loss per share for the nine months was calculated at 2.50 rupees, compared to 3.49 rupees in the previous year.
The statement of financial position as of March 31, 2025, showed a total equity and liabilities value of 722.70 million rupees, a decline from 745.42 million rupees recorded on June 30, 2024. The company’s non-current liabilities remained stable, while current liabilities marginally increased to 712.16 million rupees from 708.14 million rupees. The assets of Dewan Khalid Textile Mills showed a decline, with total assets valued at 722.70 million rupees, down from 745.42 million rupees as of the last audited date.
The textile firm, categorized under the designated market of textiles, continues to navigate a challenging economic environment, with accumulated losses increasing to 922.64 million rupees from 905.10 million rupees. Despite the financial hurdles, the company remains committed to addressing its fiscal challenges, as reflected in the board's recent decisions.