Balochistan Glass' net loss jumps over 93% in nine-month results

April 28, 2025 (MLN): Balochistan Glass Limited (PSX: BGL) reported a significant rise in its net loss for the nine-month period ending March 31, 2025, posting a loss of Rs583.12 million (Loss per Share: Rs1.93), a 93.42% increase compared to the loss of Rs301.47m (LPS: Rs1.15) in the same period last year (SPLY).

The company’s revenue saw an extraordinary surge, increasing by 5921.54% YoY to Rs701.45m from just Rs11.65m in the corresponding period last year.

Despite this remarkable growth in sales, the sharp rise in the cost of sales, which escalated by 502.66% YoY to Rs1.07 billion, led to a gross loss of Rs370.15m, up 122.76% from the previous year.

Administrative and selling expenses also saw a considerable increase of 351.33% YoY, amounting to Rs56.34m, further exacerbating the company’s financial performance.

However, other income surged to Rs49.15m, providing some relief to the overall results.

The operating loss widened to Rs377.33 million, reflecting an increase of 111.23% YoY. Finance costs also rose significantly by 60.03% YoY to Rs202.82 million.

As a result, the company posted a loss before levies and income tax of Rs580.15m, which is an increase of 89.98% from the previous period.

Levies surged sharply by 5905.48% YoY to Rs8.77m, pushing the company to report a pre-tax loss of Rs588.91m, up 92.76% from the same period last year.

A deferred tax benefit of Rs5.8m helped slightly reduce the overall loss for the period.

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