Lahore: Crestwell Healthcare Limited has reported a substantial increase in its losses for the quarter ended September 30, 2026, as the company undergoes a transformative shift from power generation to the healthcare and pharmaceutical sectors. According to the company's unaudited financial statements released on November 2, 2026, Crestwell recorded a loss of Rs. 10.095 million for the period, compared to Rs. 0.266 million in the corresponding quarter of the previous year.

The company, formerly known as S. G. Power Limited, is in the process of operationalizing its healthcare and pharmaceutical business, following shareholder approval at an Extraordinary General Meeting in May 2026. This strategic transition has temporarily stalled revenue generation, as reflected in the company's financial performance for the quarter.

Crestwell's administrative expenses and operating loss for the quarter stood at Rs. 10.475 million, a stark contrast to Rs. 0.001 million during the same period last year. The company did, however, record a fair value gain of Rs. 0.510 million on its investment in financial assets, which served to partially offset the operating loss.

According to information available from the Pakistan Stock Exchange (PSX), Crestwell's loss before tax from continuing operations amounted to Rs. 9.966 million. Additionally, the company reported a loss of Rs. 0.128 million from discontinued operations in power generation, bringing the total loss for the period to Rs. 10.095 million. The loss per share increased to Rs. 0.17 from Rs. 0.01 in the prior year.

In a significant move to strengthen its capital base, Crestwell completed a right issue during the quarter, issuing 53,499,600 ordinary shares at Rs. 10 each. This increased its issued, subscribed, and paid-up capital from Rs. 178.333 million to Rs. 713.329 million. The company raised approximately Rs. 534.996 million through this initiative, with direct issue-related costs amounting to Rs. 23.648 million.

The successful right issue marks a pivotal step in Crestwell's strategic shift, providing the financial resources necessary to support the development of its healthcare and pharmaceutical operations. Management expressed confidence that the enhanced capital base would enable the company to meet its financial obligations and advance its new business strategy.

No material events were reported subsequent to the end of the quarter that would require adjustments or disclosures in the financial statements, the company stated.