Karachi: Crescent Steel and Allied Products Limited has released its financial results for the first quarter ended September 30, 2026, reporting a notable downturn in profitability compared to the same period last year. According to the report dated October 28, 2026, the company faced a net loss of 99.86 million rupees, a significant shift from the net profit of 430.95 million rupees recorded in the first quarter of 2025.

The company's sales totaled 1.15 billion rupees, declining from 1.50 billion rupees the previous year. After accounting for sales tax, the net sales amounted to 977.17 million rupees, down from 1.27 billion rupees. The gross profit experienced a very large move, decreasing from 424.25 million rupees to 231.50 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the company saw a net loss from investments amounting to 103.04 million rupees, contrasting with a net income of 378.01 million rupees in the previous year. This downturn contributed to an overall operating loss before finance costs of 21.45 million rupees, a stark contrast to the operating profit of 656.76 million rupees recorded in the same quarter last year.

The company's finance costs decreased to 17.12 million rupees from 64.94 million rupees, yet the loss before taxation from continuing operations stood at 38.57 million rupees, compared to a profit of 591.82 million rupees in the previous year.

Taxation charges for the quarter amounted to 40.94 million rupees, resulting in a net loss from continuing operations of 79.51 million rupees, compared to a net profit of 423.93 million rupees in the previous year. The result from discontinued operations further deepened the company's losses, culminating in a total comprehensive loss of 102.25 million rupees for the quarter, compared to a comprehensive income of 430.93 million rupees in 2025.

Basic and diluted loss per share from continuing operations was reported at 1.02 rupees, compared to earnings of 5.46 rupees per share in the previous year.