Karachi: The Board of Directors of Al-Abid Silk Mills Limited has released the company's financial statements for the first quarter ending September 30, 2026, amidst challenging global economic conditions. As of October 30, 2026, the latest report reveals the company's continued efforts to revitalize its business operations.

During this period, Al-Abid Silk Mills Limited recorded sales of 352,910 rupees, a development highlighted by the initiation of trial production on its Coating and Flocking lines in the previous quarter of 2026. However, the company faced a gross loss of 27.28 million rupees due to substantial cost of sales, amounting to 27.63 million rupees. The loss from operations was 25.70 million rupees, marking a moderate move from the previous year's corresponding period when the loss was 39.99 million rupees.

The company's administrative expenses slightly increased to 14.58 million rupees from 14.53 million rupees in the previous year. Despite the challenging environment, Al-Abid Silk Mills Limited reported other income of 16.16 million rupees, a significant improvement compared to 8.83 million rupees in the prior year. According to information available from the Pakistan Stock Exchange (PSX), these figures underscore a complex financial landscape shaped by external pressures.

Ongoing geopolitical tensions, particularly between the United States and Iran, have imposed volatility on international oil prices, contributing to inflationary pressures. These factors have adversely impacted the overall economic environment, causing delays in decision-making by the company's customers.

The loss before levy and taxation stood at 25.70 million rupees, with a levy of 197,250 rupees, resulting in a loss before taxation of 25.90 million rupees. The basic and diluted loss per share was reported at 1.93 rupees, reflecting a reduction from the previous year's figure of 2.99 rupees.

Despite these challenges, Al-Abid Silk Mills Limited remains committed to restoring its operations, creating employment opportunities, and enhancing the country's foreign exchange earnings through the revival of its export business. The company continues to engage with both domestic and international customers, dispatching numerous product samples for evaluation and approval as part of its strategic efforts to regain market presence.