Rawalpindi: Sohail Jute Mills Limited disclosed significant losses in its recently published unaudited financial statement for the quarter ending September 30, 2024. The company registered a loss after taxation of PKR 14.26 million, marking an increase in losses compared to the PKR 17.84 million loss reported during the same period in 2023.

The Rawalpindi-based company, known for its jute products, reported no sales for the quarter, according to the financial summary. The gross loss and administrative expenses maintained a level similar to the previous year, despite reduced finance costs from PKR 4.08 million to PKR 663,729.

According to information available from the Pakistan Stock Exchange (PSX), the textile firm's financial woes are reflected in the increased loss per share, moving from PKR 4.12 to PKR 3.29 year-over-year. The financial document also noted the absence of any tax provision, indicating the non-operational status of the mill during this period.

This financial disclosure comes amidst challenging times for the jute industry, which has faced significant economic pressures across the region. Sohail Jute Mills has yet to announce any specific plans for restructuring or revitalizing business operations as it navigates through this downturn.