Karachi: Agha Steel Industries Ltd. released its financial results for the quarter ended September 30, 2026, indicating a reduction in net losses despite a decline in turnover. The company's financial report, dated October 26, 2026, highlighted key figures for the quarter, reflecting changes in various financial metrics.
According to the report, Agha Steel's net turnover for the quarter stood at 1.44 billion rupees, down from 2.16 billion rupees in the same period last year. This decline in turnover was accompanied by a cost of sales amounting to 1.77 billion rupees, compared to 2.49 billion rupees in the previous year. The resulting gross loss was reported at 322.31 million rupees, a slight improvement from the 331.26 million rupees recorded in the corresponding quarter of 2025.
Administrative expenses were reported at 83.03 million rupees, down from 90.99 million rupees, while selling and distribution costs decreased to 77.37 million rupees from 88.32 million rupees. Finance costs remained relatively stable at 739.29 million rupees, compared to 730.82 million rupees in the prior year. Overall, these expenses contributed to a total operating loss of 1.22 billion rupees, slightly better than the 1.24 billion rupees loss reported last year.
The financial report also noted that Agha Steel recorded other income worth 50.86 million rupees, up significantly from 17.97 million rupees the previous year, which contributed to reducing the overall loss before levy and taxation to 1.17 billion rupees, compared to 1.25 billion rupees in 2025. The levy for the quarter was 18.06 million rupees, leading to a loss before taxation of 1.19 billion rupees, an improvement from the 1.28 billion rupees loss seen last year.
Taxation, net of adjustments, was 219.45 million rupees, up from 111.63 million rupees. This resulted in a loss after taxation of 969.76 million rupees, compared to 1.17 billion rupees in 2025. The total comprehensive loss for the quarter matched the loss after taxation, as there was no other comprehensive income reported.
According to information available from the Pakistan Stock Exchange (PSX), the loss per share for the quarter improved to 1.34 rupees, compared to 1.93 rupees in the previous year, reflecting the company's efforts to mitigate losses despite the reduced turnover.
These financial results place Agha Steel within the designated market category of the basic materials sector, providing insights into the company's ongoing financial performance and the challenges it faces in the current economic landscape.