Karachi: Redco Textiles Limited disclosed its financial report for the quarter ending September 30, 2026, revealing a significant downturn in its financial performance. The company reported a net sales figure of 179.21 million for the quarter, a decrease from 418.54 million during the same period last year, marking a very large or significant move in sales.

The cost of sales stood at 234.76 million, compared to 324.69 million in the previous year. This resulted in a gross loss of 55.55 million, compared to a gross profit of 93.85 million in the third quarter of 2025.

Operating expenses saw a substantial increase, with distribution costs slightly changing from 787,852 to 788,282 and administrative expenses rising to 7.17 million from 7.01 million. Other operating expenses surged to 79.18 million, a substantial increase from 1.62 million last year. This led to total operating expenses of 87.14 million, up from 9.42 million.

The operating loss for this quarter was reported at 142.70 million, a stark contrast to the operating profit of 84.43 million recorded in the same period last year. Redco Textiles' other operating income increased to 948,573 from 463,953. Finance costs decreased to 19,946 from 684,275.

According to information available from the Pakistan Stock Exchange (PSX), the loss before levies and taxation amounted to 141.77 million, in comparison to a profit of 84.21 million recorded last year. The levies decreased to 2.24 million from 14.32 million in the same quarter of the previous year.

The company recorded a loss before taxation of 144.01 million, contrasting with a profit before taxation of 69.90 million in the previous year. Deferred tax for the period stood at 44.78 million, as opposed to a deferred tax expense of 16.61 million in the third quarter of 2025.

The resulting loss for the period was 99.22 million, against a profit of 53.28 million for the same quarter the previous year. Consequently, the basic and diluted loss per share was reported at 2.0130, compared to earnings per share of 1.0809 in the corresponding period last year.