Karachi: Shadman Cotton Mills Limited has reported a significant decline in its financial performance for the first quarter ending September 30, 2026. The company's net turnover plummeted to Rs. 10.470 million from Rs. 75.359 million in the corresponding period of the previous year, marking a significant decrease attributed to the utilization of alternative sources.

The financial report, disclosed on October 30, 2026, revealed an after-tax loss of Rs. 6.151 million compared to an after-tax profit of Rs. 9.481 million from the same quarter last year. The loss per share stood at Rs. 0.39, contrasting with a profit per share of Rs. 0.54 recorded previously.

According to information available from the Pakistan Stock Exchange (PSX), the company's financial downturn is set against a backdrop of national economic challenges, including high inflation rates and elevated fuel and energy costs, compounded by increased income tax rates imposed by the government. These factors have resulted in higher operational costs for Shadman Cotton Mills.

Despite the challenging economic environment, the company's management remains focused on leveraging other business segments to steer through the financial headwinds. The directors expressed confidence in a potential positive financial turnaround in the forthcoming months of the fiscal year, emphasizing ongoing efforts to enhance financial outcomes with the dedicated support of the corporate team.