CNERGY swings to Rs13bn 1QFY27 profit

October 27, 2026 (MLN): Cnergyico Pk Limited (PSX: CNERGY) reported a significant financial turnaround for the first quarter ended September 30, 2026 (1QFY27 / 3MFY27), posting a consolidated net profit of Rs12.64bn compared to a net loss of Rs792.70m in the corresponding period last year.

Reflecting this sharp recovery, basic and diluted earnings per share (EPS) jumped to Rs2.30, reversing a loss per share of Rs0.14 recorded in the prior-year period.

The primary catalyst driving the turnaround was a 2.4x expansion in net revenue and a massive surge in gross refining margins.

Gross customer revenue rose 117% to Rs177.12bn. After statutory discounts, taxes, levies, and duties of Rs31.92bn, net revenue reached Rs145.19bn compared to Rs61.61bn in 1QFY26. Despite cost of sales doubling to Rs123.06bn, gross profit surged to Rs22.13bn, up from Rs724.64m in the corresponding period last year.

On the operational side, overheads remained tightly contained relative to top-line throughput. Administrative expenses stood at Rs537.95m (up 14% from Rs472.97m), while selling and distribution expenses rose 15% to Rs190.15m.

Supported by a 92% increase in "other income" to Rs71.04m, operating profit surged to Rs21.47bn compared to Rs123.11m in 1QFY26.

Below the operating line, finance costs rose moderately by 5% to Rs877.24m (up from Rs836.12m), leading to a profit before taxation of Rs20.59bn (reversing a pre-tax loss of Rs713.01m in 1QFY26).

The company recorded minimum taxes of Rs31.53m and an income tax charge of Rs7.93bn (against an income tax credit of Rs279.66m in 1QFY26). Propelled by high refinery throughput, expanded crack spreads, and operating efficiency, Cnergyico Pk Limited closed the three-month period with its net profit reaching Rs12.64bn.

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