Tandlianwala Sugar Mills Reports Decrease in Pre-Tax Profits Despite Export Challenges

Tandlianwala: Tandlianwala Sugar Mills Limited has disclosed a decline in its pre-tax profits for the third quarter of the fiscal year 2023-24, which concluded on June 30, 2024. The unaudited condensed interim financial statements revealed a profit before tax of Rs 1.403 billion, a decrease from Rs 1.667 billion recorded during the same period last year.

The report comes amid ongoing export restrictions imposed by the federal government, which has set a quota of 150,000 tons for sugar mills across the country, against a backdrop of a surplus of approximately one million tons. The Khyber Pakhtunkhwa government has not yet allocated its portion of the export quota. According to information available from the Pakistan Stock Exchange (PSX), the sugar mills have made an appeal to the federal authorities for an increased export quota as the new crushing season approaches and previous stockpiles remain high.

Furthermore, Tandlianwala Sugar Mills is placing an emphasis on the export of rectified ethanol, aiming to generate foreign currency and enhance profit margins. This strategic shift reflects the management’s collective effort to overcome the current challenges and improve the company’s financial performance.

The board expressed gratitude towards the staff and management for their dedication and effort in navigating these complex circumstances.