Karachi: Habib Rice Products Ltd. has reported a significant decline in its financial performance for the first quarter ending September 30, 2026, as revealed in its unaudited accounts. The company, a notable entity in the food production market, disclosed these results in its report dated October 30, 2026.

The net sales for the quarter amounted to 468.86 million rupees, down from 497.96 million rupees recorded in the same period last year. This reduction in sales marks a very large or significant move of -5.84%. Concurrently, the cost of sales decreased slightly to 447.98 million rupees from 454.12 million rupees, providing little relief to the company's financial standing.

Gross profit experienced a big move, dropping to 20.88 million rupees from 43.84 million rupees a year earlier. The company's distribution costs saw an increase to 29.58 million rupees from 20.54 million rupees, alongside a rise in administrative expenses to 37.27 million rupees from 33.89 million rupees. However, other expenses recorded a favorable shift, with a recovery of 101,721 rupees compared to a previous loss of 730,116 rupees. Other income also increased to 671,540 rupees from 222,204 rupees.

Finance costs rose to 4.03 million rupees from 1.12 million rupees, contributing to the net loss before levies and income tax, which widened significantly to 49.22 million rupees from 12.22 million rupees. Details of levies show a minor decrease to 5.86 million rupees from 6.14 million rupees, leading to a loss before income tax of 55.09 million rupees, up from 18.36 million rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the net loss for the period under review stood at 55.09 million rupees, compared to a net loss of 18.36 million rupees for the same quarter last year. The loss per share has consequently increased to 1.38 rupees from 0.46 rupees, reflecting the company's challenging financial environment over the past year.

This financial report highlights the pressures faced by Habib Rice Products Ltd. in maintaining profitability amid fluctuating costs and reduced sales, underscoring the company's ongoing challenges in the current economic climate.