Karachi: Olympia Mills Limited released its financial results for the fiscal year ending June 30, 2026, revealing a significant downturn in net profit compared to the previous year. The company reported a net profit of Rs. 33,473,331, a sharp decline from the Rs. 145,901,413 recorded in 2025. The earnings per share also fell to Rs. 2.79 from Rs. 12.16.

According to the statement of financial position, the company's total equity and liabilities saw a slight increase to Rs. 706.16 million from Rs. 703.08 million the previous year. The increase in total assets was primarily attributed to a moderate rise in current assets, which climbed to Rs. 84.07 million from Rs. 75.07 million. However, non-current assets slightly decreased to Rs. 622.09 million from Rs. 628.01 million.

Revenue from contracts with customers showed a notable increase, reaching Rs. 221.62 million, up from Rs. 132.85 million, reflecting a very large move in sales figures. Despite this, direct operating expenses surged to Rs. 144.13 million, compared to Rs. 60.22 million in the previous year, indicating increased operational costs.

The company's operating profit decreased to Rs. 58.65 million from Rs. 163.61 million, largely due to the absence of a gain on extinguishment of debt, which had contributed Rs. 119.89 million to the previous year's profits. Administrative and general expenses were reduced to Rs. 24.65 million from Rs. 28.52 million, while other income remained stable at Rs. 6.91 million.

According to information available from the Pakistan Stock Exchange (PSX), Olympia Mills Limited maintained its issued, subscribed, and paid-up share capital at Rs. 120.00 million. The company's capital reserves held steady with a surplus on revaluation of property, plant, and equipment at Rs. 525.24 million.

The report highlighted a reduction in short-term borrowings to Rs. 296.69 million from Rs. 331.40 million, while trade and other payables increased to Rs. 103.30 million from Rs. 99.68 million, reflecting a minor move in the company's current liabilities. Deferred liabilities also saw a rise, reaching Rs. 3.18 million from Rs. 2.74 million.

The financial landscape for Olympia Mills Limited underscores the challenges faced by the company amid rising costs and a volatile economic environment. As it navigates these hurdles, the company's management will need to strategize effectively to enhance profitability and shareholder value.