Karachi: Saritow Spinning Mills Limited has announced its financial results for the first quarter ending September 30, 2026, revealing a notable improvement in its financial health. The company reported an operating profit of 5,210,167 rupees, a significant turnaround from the operating loss of 25,533,853 rupees in the same quarter last year.

According to the report dated October 28, 2026, the company's lease income for the quarter was 15,441,180 rupees, with no recorded lease income in the previous year. Operating expenses decreased to 10,231,013 rupees from 25,533,853 rupees, contributing to the company's improved profitability.

The financial cost for the quarter stood at 195,983 rupees, contrasting with a previous credit of 23,400 rupees in the prior year. Saritow Spinning Mills reported a profit before levies and income tax of 5,014,184 rupees, compared to a loss of 25,557,253 rupees in the corresponding quarter of the previous year. The profit after income taxes mirrored this figure.

Basic profit per share was recorded at 0.17 rupees, a recovery from the loss of 0.85 rupees per share posted for the same period last year.

The company's financial position as of September 30, 2026, shows total equity and liabilities at 916.32 million rupees, a decrease from 1,081.67 million rupees as of June 30, 2026. Current liabilities were reduced to 798.34 million rupees from 957.86 million rupees, driven by a decrease in trade and other payables.

According to information available from the Pakistan Stock Exchange (PSX), the company's issued share capital remains at 298.41 million rupees, and the revaluation reserve is unchanged at 677.15 million rupees. Accumulated losses remain at 868.49 million rupees, indicating no change in this area.

The report highlights Saritow Spinning Mills Limited's efforts to stabilize its financial performance, with the company managing to cut operating expenses and generate lease income, contributing to a more positive outlook for the fiscal year.