Karachi: Faisal Spinning Mills Limited, a prominent player in the textiles sector, disclosed its financial results for the quarter ending September 30, 2026, revealing a noteworthy increase in profitability. The company reported a profit after taxation of 306.80 million rupees, a significant move compared to the loss of 92.18 million rupees recorded in the same period last year, according to its Condensed Interim Statement of Profit or Loss.
The report, dated October 29, 2026, highlights an increase in sales to 12.24 billion rupees from 11.95 billion rupees in the previous year, resulting in a gross profit of 1.19 billion rupees. The gross margin improvement is attributed to a reduction in cost of sales, which was reported at 11.04 billion rupees, slightly up from 10.92 billion rupees.
Operating expenses saw a minor adjustment, with distribution costs recorded at 387.62 million rupees and administrative expenses at 148.65 million rupees. Other income increased substantially to 65.93 million rupees from 25.12 million rupees, contributing to the improved profitability.
The financial position of the company also reflected changes, with total equity and liabilities amounting to 36.43 billion rupees as of September 30, 2026, up from 34.35 billion rupees on June 30, 2026. This increase is primarily due to a rise in current liabilities, which now stand at 18.35 billion rupees, a very large move from 16.47 billion rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company's trade and other payables surged to 7.38 billion rupees, marking a significant increase from 4.71 billion rupees. In contrast, long-term financing saw a decrease to 4.55 billion rupees from 4.69 billion rupees.
The company's assets also showed growth, with total assets reported at 36.43 billion rupees, reflecting an increase from 34.35 billion rupees. Current assets rose to 22.89 billion rupees, up from 20.79 billion rupees, driven by an increase in stock in trade and trade debts.
The report further indicates a reduction in finance costs to 315.89 million rupees from 457.53 million rupees, contributing to the overall profitability. The share of profit from associated undertakings was recorded at 84.18 million rupees, a reversal from the loss of 8.94 million rupees in the previous year.
With these financial adjustments, Faisal Spinning Mills Limited appears to have positioned itself favorably in the market, demonstrating resilience and strategic financial management during a challenging economic period.