Haseeb Waqas Sugar narrows loss in 9MFY25

MG News | July 29, 2025 at 03:56 PM GMT+05:00

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July 29,2025(MLN): Haseeb Waqas Sugar Mills Limited (PSX: HWQS) reported a loss after tax of Rs150.1 million [EPS: Rs 4.63] for the nine-month period ended June 30, 2025, compared to a loss of Rs201.5m [EPS: Rs 6.22] in the same period last year, a decline of 25.49%.

The company’s cost of goods sold reduced by 16.67% to Rs211.7m from Rs254.1m in the same period of 2024.

Administrative and general expenses fell by 17.12%, reaching Rs10.3m compared to Rs12.4m last year.

Loss from operations stood at Rs222m, down by 16.69% from Rs266.5m in the corresponding period.

Finance costs significantly decreased by 92.43%, recorded at Rs5,868 compared to Rs77,522 in the same period last year.

Deferred taxation increased to Rs71.9m, up by 10.43% from Rs65.1m in the prior year.

Despite the narrowed losses in 9MFY25, Haseeb Waqas SugarMills remains under a cloud of uncertainty.

The Board recently decided to cancel its proposed share buyback, citing concerns over a speculative price rally despite the company not being operational.

The mill also faces serious challenges, including legal setbacks, tax defaults, and mounting liabilities, even as it pursues delisting from PSX.

Profit and Loss Account for the nine-month period ended June 30, 2025 (Rs)
Description	Jun-25	Jun-24	% change
Sales - Net	-	-
Cost of Goods Sold	(211,731,890)	(254,095,879)	-16.67%
Gross Loss	(211,731,890)	(254,095,879)	-16.67%
Administrative & General Exp.	(10,281,894)	(12,405,843)	-17.12%
Loss from Operation	(222,013,784)	(266,501,722)	-16.69%
Other Operating Income	-	-
Finance Cost	(5,868)	(77,522)	-92.43%
Loss Before Taxation	(222,019,652)	(266,579,244)	-16.72%
Taxation - Deferred	71,902,955	65,113,456	10.43%
Loss After Taxation	(150,116,697)	(201,465,788)	-25.49%
Loss per Share (Basic/Diluted)	(4.63)	(6.22)	-25.56%

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