Lahore: Ittefaq Iron Industries Limited has released its unaudited financial results for the quarter ending September 30, 2026, showing a continued financial downturn. The company reported a total comprehensive loss of 65.31 million rupees, an improvement over the 86.77 million rupees loss recorded in the same period last year.

The company's revenue from contracts with customers declined slightly to 475.21 million rupees from 478.75 million rupees in the corresponding quarter of 2025. The cost of sales, however, saw a decrease to 500.25 million rupees from 520.54 million rupees, resulting in a gross loss of 25.04 million rupees, compared to a higher gross loss of 41.79 million rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the company's administrative and general expenses were recorded at 22.44 million rupees, down from 25.99 million rupees, while finance costs decreased to 7.19 million rupees from 8.16 million rupees. Despite these reductions, the loss before taxation stood at 65.31 million rupees, with no tax impact reported.

The company's equity and liabilities totaled 5.23 billion rupees as of September 30, 2026, down from 5.48 billion rupees as of June 30, 2026. The share capital remained unchanged at 1.44 billion rupees, with the director's loan also stable at 316.33 million rupees. The capital reserves showed a minor move with a surplus on revaluation of property, plant, and equipment decreasing to 889.68 million rupees from 897.34 million rupees.

Current liabilities experienced a significant move, decreasing to 1.66 billion rupees from 1.85 billion rupees. Notably, trade and other payables saw a reduction to 512.69 million rupees from 698.68 million rupees.

Total assets decreased to 5.23 billion rupees as of the end of September, with non-current assets slightly down to 2.11 billion rupees from 2.15 billion rupees. Current assets decreased to 3.12 billion rupees from 3.33 billion rupees, with stock-in-trade reducing to 981.45 million rupees from 1.16 billion rupees, and trade debts decreasing to 1.21 billion rupees from 1.26 billion rupees.

The company continues to grapple with financial challenges, as reflected in its earnings per share, which stood at negative 0.45 rupees per share for the quarter, an improvement from negative 0.60 rupees per share in the previous year.