Lahore: The board of directors of Yousaf Weaving Mills Limited has released the unaudited financial statements for the quarter ending September 30, 2026, detailing a significant decline in the company's gross profit. According to the report, the company recorded a gross profit of Rs. 2.560 million, marking a 29% decrease compared to the same period last year.
The report, dated October 30, 2026, highlights a parallel decline of approximately 29% in both sales and cost of sales, resulting in reduced gross profit in absolute terms. The company reported a loss after tax amounting to Rs. 10.689 million, a deterioration from the Rs. 9.305 million loss recorded in the corresponding quarter of the previous year. Despite this, operating expenses remained broadly consistent with the comparative period.
According to information available from the Pakistan Stock Exchange (PSX), Yousaf Weaving Mills has faced considerable financial headwinds. To bolster the company's financial position, the directors have provided long-term financing of Rs. 83.526 million. This injection of funds aims to meet Yousaf Weaving Mills' operational needs and financial obligations, underscoring the directors' commitment to sustaining the company's operations.
In a bid to manage its financial liabilities, the company has begun repaying the outstanding markup owed to the National Bank of Pakistan. Additionally, negotiations are underway with Habib Metropolitan Bank Limited to restructure existing financial facilities. These discussions aim to realign repayment schedules with expected cash flows, although the final terms and timing are yet to be agreed upon.
Looking forward, the management of Yousaf Weaving Mills remains cautiously optimistic about overcoming current challenges. Key priorities include enhancing cash flow generation, maintaining operational discipline, and advancing lender negotiations. The directors stress that improvements in external conditions, such as energy supply reliability, exchange rate stability, and affordable financing, would be crucial for the company's recovery and competitiveness.
In conclusion, the board expressed gratitude towards shareholders for their unwavering support and acknowledged the dedication of the company's employees, as well as the cooperation of its customers, suppliers, and lenders.