Karachi: The Directors of Quantum Data Technologies Limited (QTECH) have released the unaudited financial statements for the first quarter ending September 30, 2026, with a focus on the company's ongoing strategic transition toward information technology and related business activities.

On November 2, 2026, QTECH reported generating IT revenue of Rs. 20.013 million for the quarter. After accounting for the cost of revenue, which stood at Rs. 5.800 million, and administrative expenses of Rs. 2.300 million, the company achieved a gross profit of Rs. 11.905 million from its IT operations. However, other operating expenses, primarily depreciation on spinning assets, amounted to Rs. 23.186 million. Consequently, after applicable taxes, the company recorded a net loss of Rs. 11.483 million for the period.

According to information available from the Pakistan Stock Exchange (PSX), QTECH's management remains focused on enhancing its IT operations, developing new revenue avenues, and progressively improving financial performance. A key development in this quarter was the signing of a Strategic Cooperation and Marketing Development Framework Agreement with Guangzhou Great Power Technology Co., Limited, a prominent Chinese energy technology company. This partnership aims to explore opportunities for energy storage solutions in the local market, aligning with the company's business diversification strategy.

In addition to strategic partnerships, QTECH has made strides in strengthening its financial position by settling outstanding banking liabilities with the Bank of Punjab (BOP) and Habib Metropolitan Bank Limited (HMBL). This settlement is considered a significant milestone in reducing financial burdens and provides a firmer foundation for future business development and operational recovery.

The management of QTECH remains optimistic about the company's future prospects and is actively seeking further business opportunities to achieve sustainable operational profitability. While the company continues to address the financial impact of its historical spinning operations, its focus on IT business development and energy storage solutions demonstrates a commitment to establishing a viable and sustainable business model.

The Directors have expressed their appreciation to shareholders, business partners, employees, and all stakeholders for their continued trust and support. The management is dedicated to working diligently towards the company's growth, financial stability, and the creation of long-term value for shareholders.