Karachi: Pak Leather Crafts Limited reported a significant financial downturn for the third quarter ending March 31, 2026, with the company revealing a considerable loss in both its quarterly and nine-month earnings. On April 28, 2026, the company’s board of directors met to discuss the financial outcomes at the registered office, where it was determined that no dividends, bonus shares, or other entitlements would be issued.

The company’s sales for the nine-month period dropped sharply to 6.55 million rupees from 43.08 million rupees in the previous year. The quarterly sales also showed a decline, with figures at 14.12 million rupees. The cost of sales for the nine-month period stood at 9.04 million rupees, while the quarterly cost of sales was 10.63 million rupees. This resulted in a gross loss of 2.50 million rupees for the nine months and a gross loss of 1.76 million rupees for the quarter.

Administrative expenses rose to 8.83 million rupees from 7.87 million rupees in the same period last year, while selling and distribution expenses decreased to 541,569 rupees. The financial cost was recorded at 113,317 rupees for the nine months. Consequently, the loss before taxation for the period was 10.98 million rupees, marking a very large or significant move from the 529,878 rupees loss recorded in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the company’s loss after taxation was 10.95 million rupees, compared to a profit of 184,214 rupees in the previous period. The loss per share for the nine-month period was recorded at 3.22 rupees, while it was 1.26 rupees for the quarter.

As of March 31, 2026, the company’s accumulated losses stood at 364.30 million rupees, reflecting a deteriorating financial position. The company continues to face challenges in reversing its financial decline, with comprehensive income reflecting the ongoing struggles in a competitive market.