At-Tahur Limited posts steady 20% rise in 9MFY26 earnings

April 28, 2026 (MLN): At-Tahur Limited (PSX: PREMA) reported a robust 20.28% year-on-year expansion in profit after taxation for the nine months ended March 31, 2026, recording Rs412.56m compared to Rs342.996m in the corresponding period last year.

The company's earnings per share (EPS) climbed 20.38% to Rs1.89, up from Rs1.57 in 9MFY25, showing meaningful value accretion for shareholders during the period.

PREMA's total revenue and gains posted a 20.59% year-on-year increase, rising to Rs9.23bn from Rs7.65bn.

Revenue from contracts with customers expanded by 23.61% to Rs5.08bn from Rs4.11bn, while the gain on initial recognition of milk at fair value grew by 17.47% to Rs3.28bn from Rs2.79bn.

Gains from changes in fair value of dairy livestock also contributed positively, rising by 15.71% to Rs874.13m from Rs755.45m, reflecting continued herd appreciation across the period.

Concurrently, operating costs grew at a slightly faster pace of 22.58%, reaching Rs7.23bn from Rs5.90bn, marginally outpacing total revenue growth.

This cost trajectory relative to total revenue and gains allowed gross profit to register a 13.90% expansion, settling at Rs2.00bn, up from Rs1.76bn in the prior year period.

Administrative and general expenses rose by 10.98% to Rs275.93m, growing at a contained pace well below the revenue expansion rate and showing disciplined cost management at the corporate level.

Selling and marketing expenses expanded by 18.56% to Rs543.15m, broadly tracking the revenue growth trajectory. Other expenses rose by a marginal 1.63% to Rs559.92m from Rs550.93m, showing effective containment of ancillary operational costs.

In aggregate, total operating expenses increased by a moderate 9.65% to Rs1.38bn from Rs1.26bn, growing at less than half the rate of revenue and delivering a meaningful positive operating leverage effect.

The resulting subtotal of operating surplus before other income improved by a strong 24.64% to Rs621.14m from Rs498.36m in the prior year.

Other income, at Rs71.75m, moderated marginally by 1.48% from Rs72.82m in 9MFY25, contributing a broadly stable offset to the operating base.

The combined effect of these dynamics resulted in profit from operations expanding by a healthy 21.31% to Rs692.89m, compared to Rs571.18m in the corresponding period of the prior year.

Below the operating line, finance costs rose by a contained 5.29% to Rs166.62m from Rs158.25m, a notably subdued increase relative to the scale of business expansion.

After netting finance costs, profit before levy and taxation stood at Rs526.27m, representing a 27.44% year-on-year increase from Rs412.94m recorded in 9MFY25.

The levy charge for the period came in at Rs39.11m, a significant 27.22% reduction from Rs53.74m in the prior year.

Profit before taxation reached Rs487.16m, a strong 35.62% increase over the Rs359.20m reported in the corresponding period last year.

The company faced a substantially higher taxation charge of Rs74.60m, up 360.39% from Rs16.20m in the prior year.

After accounting for taxation, At-Tahur Limited successfully closed the nine-month period with a profit after taxation of Rs412.56m, representing a 20.28% expansion over the Rs342.996m reported in the corresponding period of last year.

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