Haseeb Waqas Sugar narrows loss in 9MFY25
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MG News | July 29, 2025 at 03:56 PM GMT+05:00
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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