Karachi: Crescent Jute Products Limited has unveiled its annual financial report for the fiscal year ending June 30, 2026, showcasing a significant downturn in assets and ongoing losses. The report, dated October 5, 2026, indicates troubling financial conditions for the company.

The total assets of Crescent Jute Products Limited have markedly decreased to Rs. 2,326,701 from the previous year's Rs. 4,172,189, representing a very large or significant move in asset reduction. This decline is primarily attributed to a major drop in current assets, which plummeted from Rs. 2,531,753 to Rs. 837,588. Notably, the bank balances saw a sharp decrease from Rs. 1,547,270 to Rs. 99,293, while other receivables fell from Rs. 614,521 to Rs. 268,933.

Equity has also been adversely affected. The accumulated loss has risen to Rs. (483,592,841) compared to Rs. (476,647,050) in the previous year, further deepening the company's negative equity position to Rs. (210,325,077) from Rs. (203,379,286). The liabilities have increased slightly, with total liabilities now at Rs. 212,651,778, up from Rs. 207,551,475, reflecting a minor move in liabilities.

According to information available from the Pakistan Stock Exchange (PSX), the financial performance of Crescent Jute Products Limited continues to struggle. The company recorded a loss before tax of Rs. 6,945,791, a slight improvement from the previous year's Rs. 7,410,229. This results in a loss per share of Rs. (0.29), marginally better than last year's Rs. (0.31).

Other income has sharply declined from Rs. 1,140,702 to Rs. 111,901, while administrative expenses reduced moderately from Rs. 8,507,007 to Rs. 7,049,360. The finance cost saw a minor move from Rs. 9,222 to Rs. 8,332.

The report portrays a challenging financial landscape for Crescent Jute Products Limited, indicating that the company continues to face significant hurdles in reversing its financial fortunes.