Karachi: Habib Rice Products Ltd. disclosed a substantial downturn in its financial performance for the first quarter ending September 30, 2026, as reported on October 26, 2026.

The company's net sales for the period fell to approximately 468.86 million rupees from 497.96 million rupees in the same quarter of the previous year. This decline in revenue was accompanied by a gross profit of 20.88 million rupees, a decrease from the previous year's figure of 43.84 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the distribution costs saw an increase, reaching 29.58 million rupees compared to 20.54 million rupees last year. Administrative expenses also rose to 37.27 million rupees from 33.89 million rupees. Despite a rise in other income to 671,540 rupees from 222,204 rupees, the company encountered a significant finance cost of 4.03 million rupees, up from 1.12 million rupees.

The loss before levies and income tax widened to 49.22 million rupees, compared to 12.22 million rupees in the corresponding quarter of 2025. Levies amounted to 5.86 million rupees, slightly lower than the previous 6.14 million rupees, resulting in a loss before income tax of 55.09 million rupees, a very large move from the 18.36 million rupees loss reported last year. No taxation was reported for the period.

Consequently, the net loss for the quarter was recorded at 55.09 million rupees, marking a significant increase from the 18.36 million rupees loss during the same period last year. Loss per share, both basic and diluted, stood at 1.38 rupees, compared to 0.46 rupees previously.