Agha Steel narrows quarterly loss in Jul-Sep 2026

Agha Steel Industries reported a net loss of PKR 970 mln (USD 3.5 mln) for the quarter ended September 30, 2026, narrowing from PKR 1.17 bln (USD 4.2 mln) a year earlier.

Net sales fell by 33.2pct YoY to PKR 1.44 bln (USD 5.2 mln), compared with PKR 2.16 bln in the corresponding period last year. The company recorded an operating loss of PKR 1.22 bln (USD 4.4 mln), slightly lower than PKR 1.24 bln a year earlier.

Finance costs increased to PKR 739 mln (USD 2.7 mln) from PKR 731 mln, continuing to weigh on the company's performance.

The company said it was reviewing operations, optimizing costs and exploring measures to improve performance. It is also negotiating with lenders to restructure its long- and short-term loans, with a master restructuring agreement expected to be finalized by June 2027.

Agha Steel operates an EAF-based plant at Port Qasim, Karachi, with annual production capacity of 450,000 tons of billets and 650,000 tons of rebar.

1 USD / 277 PKR