Idrees Textile Mills Limited

Business Recorder reported that Idrees Textile Mills Limited (IDRT) narrowed its net loss to Rs78.489 million in the first nine months of the current fiscal year, down 65.57 percent year-on-year. The loss per share stood at Rs3.95, compared with Rs11.48 in the same period last year. Net sales, however, slid 20.34 percent to Rs3081.20 million as weaker export sales outweighed a rise in local sales.

Gross profit fell 8.54 percent during the period, although the gross margin rose to 9.31 percent from 8.11 percent on cheaper inventory carried over from last year. Distribution expense dropped 59 percent with thinner export sales, while administrative expense climbed 8.23 percent on inflation and a larger ECL allowance. Operating profit still increased 27.95 percent to Rs225.48 million, supported by a 137.56 percent jump in other income from gains on property, plant and equipment disposals.

Finance costs fell 24 percent as monetary easing took hold, and the report linked the sales decline to the absence of indirect exports, a tough global backdrop, costly energy and fuel, and heavier taxes. IDRT, an unquoted public limited company incorporated in 1990, makes yarn and fabric, with directors, the CEO, their spouses and minor children holding 85.93 percent of shares as of June 30, 2025. The company's net loss for 2025 was Rs394.765 million, up 103 percent on the previous year.