Exide Pakistan profit drops 59% to Rs229m

January 29, 2026 (MLN): Exide Pakistan Limited (PSX: EXIDE) posted a profit after taxation of Rs229.1 million for the nine months ended December 31, 2025, down significantly from Rs559.7m in the same period last year.

Earnings per share (EPS) declined to Rs29.49 compared to Rs72.05 in 9MFY25, showing challenging market conditions and lower sales volumes during the period.

The company's turnover contracted 21.79% YoY to Rs14.60 billion from Rs18.67bn, indicating softer demand in the battery and energy storage segment amid a difficult macroeconomic environment.

Cost of goods sold decreased 20.48% YoY to Rs12.28bn, resulting in a gross profit of Rs2.32 billion, down 28.10% YoY from Rs3.23 billion.

This contraction in gross margin reflects pricing pressures and unfavorable product mix during the nine-month period.

On the expense side, total operating expenses declined 23.26% YoY to Rs1.31bn.

Distribution costs decreased substantially by 27.21% to Rs1.09bn, showing reduced sales activity and tighter cost management.

However, administrative expenses increased 5.90% to Rs215.7m, indicated higher overhead costs despite lower revenues.

Consequently, operating profit declined 33.53% YoY to Rs1.01bn, demonstrating the impact of lower sales volumes on operational leverage.

Other operating income surged 202.36% YoY to Rs3.5m, providing some support to the bottom line through non-core income streams.

Financial charges declined marginally by 1.92% YoY to Rs511.1m, benefiting slightly from better working capital management despite the challenging revenue environment.

Other operating charges decreased 33.22% YoY to Rs56.0m, showing lower one-off expenses during the period.

This brought profit before taxation to Rs447.6m, down 51.22% YoY from Rs917.6m in the corresponding period last year.

The company recorded a provision for taxation of Rs218.5m, down 38.94% YoY from Rs357.9m, resulting in a net profit of Rs229.1m for 9MFY26.

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