Service Industries Textiles loss widens 53% to Rs111m in FY26
MG News | October 06, 2026 at 03:14 PM GMT+05:00
October 06, 2026 (MLN): Net loss of Service Industries Textiles Limited (PSX: SERT) widened 52.75% year-on-year to Rs111.36m for the fiscal year ended June 30, 2026 (FY26), compared with Rs72.90m in FY25.
Loss per share (LPS) increased 52.74% to Rs8.08 from Rs5.29
in the preceding year.
The deeper loss was driven by a gross loss, higher
administrative and finance costs and a smaller taxation credit. A surge in
other income only partly offset the damage.
Revenue declined 6.88% to Rs1.28bn from Rs1.37bn in FY25.
Cost of sales fell at a slower pace of 3.92% to Rs1.31bn from Rs1.36bn,
resulting in a gross loss of Rs35.23m, compared with a gross profit of Rs5.59m
in the previous year.
Operating expenses added to the pressure.
Distribution cost fell 6.41% to Rs8.90m from Rs9.51m, while
administrative expenses rose 9.73% to Rs49.77m from Rs45.36m.
As a result, operating loss widened 90.57% to Rs93.90m from
Rs49.27m.
Finance cost increased 31.53% to Rs13.92m from Rs10.58m,
while other operating expenses edged down 4.99% to Rs1.35m from Rs1.42m.
Other income jumped more than 128-fold to Rs13.35m from
Rs0.10m, though it was not enough to offset the operating weakness.
Loss before levy and taxation widened 56.64% to Rs95.82m
from Rs61.17m. Levy declined 6.87% to Rs15.95m from Rs17.13m, taking the loss
before taxation up 42.74% to Rs111.77m from Rs78.30m.
A taxation credit of Rs0.42m, down 92.27% from Rs5.40m in
FY25, provided little cushion and left the net loss at Rs111.36m.
|
STATEMENT OF PROFIT OR
LOSS FOR THE YEAR ENDED JUNE 30, 2026 (Rupees) |
|||
|
Description |
2026 |
2025 |
Change (%) |
|
Revenue |
1,276,206,746 |
1,370,514,683 |
-6.88% |
|
Cost of sales |
(1,311,434,216) |
(1,364,920,948) |
-3.92% |
|
Gross (Loss) / Profit |
(35,227,470) |
5,593,735 |
|
|
Operating expenses: |
|||
|
Distribution cost |
(8,898,153) |
(9,507,231) |
-6.41% |
|
Administrative expenses |
(49,772,224) |
(45,357,515) |
9.73% |
|
Operating Loss |
(93,897,847) |
(49,271,011) |
90.57% |
|
Finance cost |
(13,920,271) |
(10,583,512) |
31.53% |
|
Other operating expenses |
(1,350,000) |
(1,420,862) |
-4.99% |
|
Other income |
13,348,695 |
103,904 |
12747.14% |
|
Loss before Levy and
Taxation |
(95,819,423) |
(61,171,481) |
56.64% |
|
Levy |
(15,953,882) |
(17,131,434) |
-6.87% |
|
Loss before Taxation |
(111,773,305) |
(78,302,915) |
42.74% |
|
Taxation |
417,817 |
5,402,842 |
-92.27% |
|
Net Loss for the Year |
(111,355,488) |
(72,900,073) |
52.75% |
|
Loss per Share-Basic and
Dilute |
(8.08) |
(5.29) |
52.74% |
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