Karachi: Al-Abid Silk Mills Ltd. has announced its financial results for the first quarter ending on September 30, 2026, revealing a significant reduction in losses compared to the same period last year. The Board of Directors approved the un-audited quarterly accounts in their meeting held on October 29, 2026.

The company reported a gross loss of 27.28 million rupees, a notable decrease from the 34.29 million rupees recorded in the previous year. Operating expenses, primarily administrative, totaled 14.58 million rupees, marginally up from 14.53 million rupees last year. Despite this, the total operating expenses decreased to 41.86 million rupees from 48.82 million rupees.

A significant increase in other income was recorded, amounting to 16.16 million rupees, compared to 8.83 million rupees in the same quarter the previous year. Consequently, the loss from operations stood at 25.70 million rupees, down from 39.99 million rupees, reflecting a big move in the company’s financial performance.

The finance cost remained non-existent this quarter, and the loss before taxation was consistent with the operational loss at 25.70 million rupees. After accounting for a levy of 197,250 rupees, the loss after taxation was reported as 25.90 million rupees, a reduction from 40.09 million rupees last year. The loss per share also improved, decreasing from 2.99 rupees to 1.93 rupees.

According to information available from the Pakistan Stock Exchange (PSX), Al-Abid Silk Mills Ltd. operates within the textiles market category. The results indicate a substantial improvement in the company's financial health year-over-year, despite remaining in a loss position. The report for this quarter did not include any other comprehensive income or finance costs, underscoring the primary focus on reducing operational losses.