Karachi: Fazal Cloth Mills Limited has reported a substantial increase in profits for the first quarter of 2026, showcasing a notable financial turnaround compared to the same period last year. The company, a key player in the textile industry, released its unconsolidated condensed interim statement of profit or loss for the three months ending September 30, 2026.

The textile giant recorded revenue from contracts with customers netting 25.21 billion rupees, a rise from 24.33 billion rupees in the corresponding quarter of 2025. The cost of sales accounted for 22.13 billion rupees, slightly down from the previous year's 22.55 billion rupees, resulting in a gross profit of 3.07 billion rupees compared to 1.79 billion rupees last year.

Expenses related to selling, distribution, administration, and other operations totaled 694.75 million rupees, up from 415.92 million rupees. Despite these increased costs, the profit from operations saw a significant leap to 2.44 billion rupees from 1.82 billion rupees. Noteworthy is the finance cost reduction to 399.15 million rupees from a previous 1.21 billion rupees.

According to information available from the Pakistan Stock Exchange (PSX), Fazal Cloth Mills Limited's profit before levies and income tax stood at 2.04 billion rupees, marking a very large or significant move from last year’s 608.66 million rupees. After accounting for levies of 315.23 million rupees and income tax of 178.68 million rupees, the profit after taxation reported was 1.54 billion rupees, a very large or significant move from the 179.57 million rupees recorded in the previous year.

Earnings per share also experienced a considerable increase, reaching 51.44 from 5.99, reflecting the company's improved profitability. The financial results indicate a robust performance for the first quarter and provide a positive outlook for Fazal Cloth Mills Limited in the textile sector.