Karachi: J.A. Textile Mills Limited has released its unaudited financial results for the first quarter ended September 30, 2024, revealing a mixed performance amid partial resumption of business operations. The company reported an increase in sales but also higher losses compared to the same period last year.

During this quarter, sales reached Rs 139.50 million, significantly higher than the Rs 48.16 million recorded in the corresponding quarter of 2023. According to information available from the Pakistan Stock Exchange (PSX), this increase in sales demonstrates a substantial rise in operational scale despite ongoing market challenges.

However, the company faced a gross loss of Rs 26.78 million, worsening from a loss of Rs 10.05 million in the previous year. The pre-tax loss also expanded to Rs 29.74 million from Rs 9.44 million. These figures reflect the continuing cost pressures and operational challenges faced by the firm.

Taxation for the quarter was slightly higher at Rs 0.88 million compared to Rs 0.81 million last year. The loss per share deepened to Rs 2.43 from Rs 0.73, indicating increased losses per equity share held.

The management has undertaken significant measures, including overhauling plant and machinery, to enhance product quality and efficiency. These efforts are part of broader strategies to optimize production and implement effective cost control measures aimed at reversing the current trend and improving profitability.

The directors have prepared the financial statements on a going concern basis, reflecting their belief in the company’s ability to continue operations in the foreseeable future. The commitment of the management and the ongoing support from directors and associates highlight a collective effort to navigate the firm through these challenging times.