Lahore: Saritow Spinning Mills Limited, a company listed in the textile sector, has reported its financial results for the year ended June 30, 2026, revealing continued financial difficulties. According to the data released on October 6, 2026, the company experienced a total loss after income taxes of 69.33 million rupees, a slight improvement from the previous year's loss of 598.20 million rupees.
The company's financial results highlight a rental income of 26.47 million rupees for the current year, while no rental income was recorded in the previous year. Conversely, other income decreased to zero from 332,278 rupees last year. Operating expenses increased to 30.10 million rupees from 25.23 million rupees, leading to an operating loss of 3.63 million rupees, compared to a loss of 24.90 million rupees in the previous year.
The financial report indicates that the finance cost was 366,153 rupees, contributing to a loss before levies and income taxes of 3.99 million rupees. After accounting for levies amounting to 330,882 rupees, the loss before income taxes stood at 4.33 million rupees, consistent with the previous year's figure.
The loss after income taxes from continuing operations was recorded at 4.33 million rupees, whereas the loss from discontinued operations was significantly higher at 65.00 million rupees. This resulted in an overall loss after income taxes of 69.33 million rupees, a substantial decrease compared to last year's figure.
Furthermore, basic loss per share improved to 2.32 rupees from 20.05 rupees, with losses from continuing operations per share at 0.15 rupees and from discontinued operations at 2.18 rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company's authorized share capital remained unchanged at 350 million rupees, with issued share capital also steady at 298.41 million rupees. The revaluation reserve increased to 677.15 million rupees from 622.47 million rupees, while accumulated losses grew to 868.49 million rupees from 807.93 million rupees.
The total equity witnessed a moderate move, decreasing to 107.07 million rupees from 112.94 million rupees. On the liabilities front, non-current liabilities decreased to 16.74 million rupees from 19.27 million rupees, while current liabilities saw a minor move, decreasing to 957.86 million rupees from 1.10 billion rupees. Total liabilities marked a big move, reducing to 974.60 million rupees from 1.12 billion rupees.
Overall, the total equity and liabilities decreased significantly, amounting to 1.08 billion rupees from the previous year's 1.24 billion rupees. The company continues to face financial challenges as it seeks to stabilize its operations and improve its financial performance.