Baluchistan Glass expands losses to Rs713m

MG News | September 23, 2025 at 10:24 AM GMT+05:00

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September 23, 2025 (MLN): Baluchistan Glass Limited (PSX: BGL) reported a net loss after tax of Rs713.5 million for the fiscal year 2025, marking a 40% increase from the Rs508.7m loss recorded in the previous year.

This was due to surging operational costs that overshadowed a dramatic revenue expansion.

The Pakistani glassmaker's loss per share improved slightly to Rs1.85 from Rs1.94 a year earlier, representing a marginal 4.6% enhancement despite the wider absolute loss.

Net sales surged 345% to Rs717.8m from Rs161.3m in fiscal 2024, indicating strong market demand or expanded operations.

However, the cost of sales skyrocketed 164% to Rs1.18 billion, substantially outpacing revenue growth and deepening the company's gross loss by 62% to Rs463.8m.

Operating losses widened 42% to Rs456.4m from Rs321.6m, reflecting the company's struggle to achieve economies of scale despite higher sales volumes.

Administrative and selling expenses more than doubled, climbing 160% to Rs60.9m, while finance costs increased 34% to Rs255.9m.

Other income provided significant relief, surging to Rs68.6m from just Rs26,000 in the same period last year.

Statement of profit and loss for the year ended June 30, 2025 (Rs. in thousands)	2025	2024	Change (%)
Sales - net	717,833	161,345	+345.0%
Cost of sales	(1,181,622)	(448,027)	+163.7%
Gross loss	(463,789)	(286,682)	+61.8%
Administrative and selling expenses	(60,949)	(23,427)	+160.2%
Other expenses	(264)	(11,491)	-97.7%
Other income	68,637	26	+264,042.3%
Operating loss	(456,365)	(321,574)	+41.9%
Finance cost	(255,850)	(190,597)	+34.2%
Loss before levies and income tax	(712,215)	(512,171)	+39.1%
Levies	(8,973)	(2,017)	+345.0%
Loss before income tax	(721,188)	(514,188)	+40.3%
Income tax - net	7,729	5,466	+41.4%
Loss for the year	(713,459)	(508,722)	+40.2%
Loss per share - basic and diluted (Rs.)	(1.85)	(1.94)	-4.6%

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