Biafo Industries Q1 profit falls 35% to Rs101m

MG News | October 22, 2026 at 02:24 PM GMT+05:00

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October 22, 2026 (MLN): Profit for the period of Biafo Industries Limited (PSX: BIFO) fell 34.75% year-on-year to Rs100.74m for the quarter ended September 30, 2026, compared with Rs154.40m in the same period last year.

Basic and diluted earnings per share (EPS) declined 34.83% to Rs2.17 from Rs3.33 in the corresponding quarter last year.

The decline came from a drop in net revenue and a weaker gross margin. Sharply lower distribution expenses and finance costs, along with a lower tax charge, only partly cushioned the impact.

Net revenue from contracts with customers fell 22.57% to Rs865.39m from Rs1.12bn. Cost of sales declined at a slower pace of 11.89% to Rs599.73m from Rs680.67m, which pulled gross profit down 39.21% to Rs265.66m from Rs436.98m.

Operating expenses showed mixed movement.

Distribution expenses fell 78.52% to Rs18.12m from Rs84.35m, while administrative expenses rose 10.93% to Rs75.23m from Rs67.82m. The company booked a net impairment reversal on financial assets of Rs4.00m, against a net impairment loss of Rs11.98m last year.

As a result, operating profit declined 35.38% to Rs176.31m from Rs272.84m.

Other income (net) edged up 1.78% to Rs4.98m from Rs4.90m.

Finance cost fell 75.17% to Rs6.38m from Rs25.68m, while finance income declined 8.99% to Rs1.08m from Rs1.18m. Net finance cost dropped 78.37% to Rs5.30m from Rs24.49m.

Workers’ profit participation fund declined 30.50% to Rs8.80m from Rs12.66m, and workers’ welfare fund fell 16.67% to Rs7.54m from Rs9.05m.

Profit before income tax and final taxes fell 31.04% to Rs159.65m from Rs231.52m.

Income tax declined 23.62% to Rs58.91m from Rs77.13m, which left profit for the period at Rs100.74m.

STATEMENT OF PROFIT OR LOSS FOR THE QUARTER ENDED SEPTEMBER 30, 2026 (Rupees)
Description	2026	2025	Change (%)
Revenue from contract with customers - net	865,388,556	1,117,653,792	-22.57%
Cost of sales	(599,726,747)	(680,672,190)	-11.89%
Gross profit	265,661,809	436,981,602	-39.21%
Distribution expenses	(18,117,520)	(84,346,395)	-78.52%
Administrative expenses	(75,230,576)	(67,820,338)	10.93%
Net impairment (loss) / reversal on financial assets	4,000,000	(11,976,540)
Operating profit	176,313,713	272,838,329	-35.38%
Other income - net	4,983,895	4,896,841	1.78%
Finance cost	(6,375,812)	(25,678,285)	-75.17%
Finance income	1,077,773	1,184,265	-8.99%
Net finance cost	(5,298,039)	(24,494,020)	-78.37%
Workers' profit participation fund	(8,799,978)	(12,662,058)	-30.50%
Workers' welfare fund	(7,544,817)	(9,054,217)	-16.67%
Profit before income tax and final taxes	159,654,774	231,524,876	-31.04%
Profit before income tax for the period	159,654,774	231,524,876	-31.04%
Income tax	(58,910,719)	(77,128,114)	-23.62%
Profit for the period	100,744,055	154,396,762	-34.75%
Earnings per share Basic and diluted	2.17	3.33	-34.83%

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