Agha Steel narrows quarterly loss to Rs970m

October 26, 2026 (MLN): Net loss of Agha Steel Industries Limited (PSX: AGHA) narrowed 17.02% year-on-year to Rs969.76m for the three months ended September 30, 2026, compared with Rs1.17bn in the same period last year.

Loss per share (LPS) improved 30.57% to Rs1.34 from Rs1.93 in the corresponding quarter last year.

The narrower loss came from lower administrative and selling costs, an almost three-fold rise in other income, a smaller levy and a nearly doubled tax credit. These outweighed a 33% fall in turnover and slightly higher finance costs.

Net turnover fell 33.18% to Rs1.44bn from Rs2.16bn. Cost of sales declined 29.13% to Rs1.77bn from Rs2.49bn, which kept the gross loss almost unchanged at Rs322.31m, down 2.70% from Rs331.26m.

Administrative expenses fell 8.74% to Rs83.04m from Rs90.99m, and selling and distribution costs declined 12.40% to Rs77.37m from Rs88.32m.

Finance costs rose 1.16% to Rs739.29m from Rs730.82m. Total expenses edged down 1.15% to Rs899.70m from Rs910.13m.

As a result, the operating loss narrowed 1.56% to Rs1.22bn from Rs1.24bn.

The company booked no other expenses, compared with Rs29.09m last year, while other income nearly tripled to Rs50.86m from Rs17.97m.

Loss before levy and taxation narrowed 6.50% to Rs1.17bn from Rs1.25bn. Levy fell 34.91% to Rs18.06m from Rs27.75m, taking loss before taxation down 7.11% to Rs1.19bn from Rs1.28bn.

A net taxation credit of Rs219.45m, up 96.60% from Rs111.63m, cushioned the loss further and left it at Rs969.76m.

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