Lahore: Noon Sugar Mills Limited has announced its financial results for the third quarter ending June 30, 2026, revealing a significant downturn in profits compared to the previous year. The Board of Directors, in a meeting held on July 27, 2026, decided against declaring any cash dividends, bonus shares, or rights shares.
In the detailed financial statement, the company's total equity and liabilities rose to 11.36 billion rupees from 8.48 billion rupees as of September 30, 2025. Current liabilities saw a notable surge, reaching 8.46 billion rupees, up from 5.23 billion rupees. This is attributed primarily to an increase in short-term finances, which escalated to 6.71 billion rupees from 2.82 billion rupees. The rise in accrued mark-up also contributed to the increase in current liabilities, standing at 268.68 million rupees compared to 74.65 million rupees in the previous period.
On the asset side, current assets increased to 6.78 billion rupees from 3.92 billion rupees, with stock-in-trade almost doubling to 5.27 billion rupees. Cash and bank balances showed a significant improvement, rising to 259.08 million rupees from 59.05 million rupees.
The company's net sales for the quarter amounted to 1.98 billion rupees, a sharp decline from 3.49 billion rupees for the same quarter last year, representing a very large or significant move of -43.26%. Cost of sales decreased to 1.87 billion rupees from 2.99 billion rupees, resulting in a gross profit of 111.61 million rupees, down from 499.07 million rupees.
Distribution and marketing expenses increased to 88.18 million rupees, and administrative expenses slightly rose to 99.21 million rupees. Despite an increase in other income to 118.19 million rupees, profit from operations dropped to 62.35 million rupees from 396.72 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), the finance cost rose to 247.97 million rupees, further impacting the company's bottom line. This resulted in a loss before tax levies of 185.62 million rupees, compared to a profit of 177.53 million rupees in the same quarter last year.
The loss after tax levies for the quarter stood at 204.42 million rupees, a stark contrast to the profit of 132.99 million rupees recorded in the corresponding period of 2025. Consequently, the loss per share was reported at 12.38 rupees, compared to earnings of 8.05 rupees per share in the previous year.
This downturn highlights the challenges faced by Noon Sugar Mills Limited amid rising operational costs and financial expenses, reflecting broader trends within the designated market category.