Karachi: The Directors of Jubilee Spinning & Weaving Mills Limited have reported a financial loss for the first quarter ended September 30, 2026, as outlined in the company’s condensed interim financial information dated October 30, 2026. The company declared a loss of Rs. 5.13 million after accounting for costs, expenses, and tax provisions. This marks an increase from the Rs. 2.83 million loss recorded in the same quarter of the previous year.

Revenue for the quarter decreased to Rs. 2.68 million compared to Rs. 3.27 million in the first quarter of 2025. The cost of revenue saw a significant rise, reaching Rs. 3.06 million from Rs. 1.64 million, leading to a gross loss of Rs. 379,023, a stark contrast to the gross profit of Rs. 1.63 million in the previous year’s first quarter.

Administrative and other operating expenses climbed to Rs. 23.15 million from Rs. 20.83 million, while other income increased to Rs. 22.75 million from Rs. 20.79 million. Financial charges rose to Rs. 54,355 compared to Rs. 1,990, and the provision for taxation slightly decreased to Rs. 4.30 million from Rs. 4.41 million.

According to information available from the Pakistan Stock Exchange (PSX), the company’s basic earnings per share stood at Rs. (0.16) compared to Rs. (0.09) in the previous year. The report highlights a very large or significant move in financial results, with a notable difference in revenue and operating cost alignment.

The Directors attributed the increased loss to the persistent rise in the cost of doing business, which has been a trend over several years. This has exacerbated the gap between revenue growth and operational expenses. Despite the current financial setback, the management remains optimistic about improving financial performance in the remaining quarters of the fiscal year.

The Directors expressed gratitude to stakeholders for their continued support amid challenging economic conditions.