Karachi: The Premier Sugar Mills & Distillery Co. Ltd. disclosed its financial performance for the quarter and nine months ending June 30, 2026, revealing notable declines in both sales and profits. The Board of Directors released the financial results after a meeting on July 29, 2026.
The company's net sales for the quarter ended June 30, 2026, stood at Rs 760.72 million, a significant decrease compared to Rs 913.86 million in the corresponding quarter of the previous year. This represents a very large or significant move of 16.77%. The nine-month period ending June 2026 also saw net sales of Rs 2.99 billion, up from Rs 1.44 billion in the same period of 2025.
Cost of sales for the quarter was Rs 671.33 million, down from Rs 775.49 million in the previous year, contributing to a gross profit of Rs 89.39 million, compared to Rs 138.37 million last year. The nine-month gross profit rose to Rs 259.08 million from Rs 16.61 million in 2025.
Distribution costs increased to Rs 150.69 million from Rs 110.83 million, while administrative expenses rose to Rs 39.29 million from Rs 34.91 million in the previous year. The company reported other income at Rs 1.66 million, a sharp decline from Rs 10.57 million. Operating loss for the quarter was recorded at Rs 103.38 million, compared to a profit of Rs 3.21 million in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the finance cost decreased to Rs 50.45 million from Rs 96.33 million, but the loss before tax widened to Rs 163.33 million from Rs 105.01 million in the prior year. Deferred taxation contributed Rs 20.29 million to the results, leading to a loss after tax of Rs 143.04 million, compared to Rs 78.05 million in the same quarter last year.
The unconsolidated interim statement of financial position showed total assets of Rs 5.18 billion as of June 30, 2026, down from Rs 5.29 billion in September 2025. Non-current assets decreased to Rs 3.34 billion, while current assets increased to Rs 1.84 billion. Total liabilities rose to Rs 4.14 billion from Rs 4.00 billion.
The company’s issued, subscribed, and paid-up capital remained steady at Rs 37.50 million, while shareholders' equity decreased to Rs 1.04 billion from Rs 1.29 billion. The loss per share for the quarter was Rs 38.14, compared to Rs 20.81 in the previous year.
These financial results reflect the challenging market conditions faced by The Premier Sugar Mills & Distillery Co. Ltd. during the reported period.