AGTL rebounds to Rs1.7bn profit in 9MCY26

October 20, 2026 (MLN): Al-Ghazi Tractors Limited (PSX: AGTL) staged a dramatic operational turnaround for the nine months ended September 30, 2026 (9MCY26 / 9MFY26), posting a net profit of Rs1.66bn compared to a net loss of Rs269.78m in the corresponding period last year.

Reflecting this bottom-line recovery, basic and diluted earnings per share (EPS) turned positive at Rs28.61, up from a loss per share (LPS) of Rs4.65 in 9MCY25.

For the third quarter (Q3CY26) alone, net profit stood at Rs210.09m (EPS of Rs3.62) compared to a loss of Rs225.59m (LPS of Rs3.89) in Q3CY25.

The primary catalyst driving the turnaround was a robust 79% surge in customer contract revenues alongside an expansion in gross profit.

Net sales for 9MCY26 jumped to Rs17.51bn, up from Rs9.76bn. Although cost of sales increased 62% to Rs13.03bn, gross profit expanded to Rs4.48bn compared to Rs1.73bn in the prior-year period.

On the operational front, overheads expanded to support sales scaling. Distribution expenses rose 25% to Rs489.19m, while administrative costs grew 10% to Rs1.53bn.

Operating performance was further bolstered by a net credit loss allowance reversal of Rs151.11m (reversing a provision of Rs129.86m in 9MCY25), pushing operating profit to Rs2.61bn (reversing an operating loss of Rs181.96m).

Below the operating line, AGTL gained significant debt-servicing relief, with finance costs falling 95% to Rs11.39m (down from Rs247.64m in 9MCY25).

Coupled with a 146% boost in "other income" (Rs282.38m up from Rs114.74m), profit before taxation reached Rs2.65bn.

The company absorbed a corporate taxation charge of Rs993.88m for the nine-month period.

Backed by strong tractor dispatches, core gross margin expansion, credit loss reversals, and major debt servicing relief, Al-Ghazi Tractors Limited securely closed the nine-month period with a net profit of Rs1.66bn.

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