Ghani Global Glass earnings reach Rs31m despite revenue decline

October 26, 2026 (MLN): Profit after taxation of Ghani Global Glass Limited (PSX: GGGL) rose 27.05% year-on-year to Rs30.97m for the three months ended September 30, 2026, compared with Rs24.37m in the same period last year.

Basic and diluted earnings per share (EPS) increased 30.00% to Rs0.13 from Rs0.10 in the corresponding quarter last year.

The growth came from a 39% drop in cost of sales, which lifted gross profit despite lower sales, along with the absence of an income tax charge. Higher operating expenses, finance cost and levy, along with a sharp fall in other income, partly offset the gains.

Local gross sales fell 24.93% to Rs671.28m from Rs894.21m, and the company booked no exports, against Rs21.14m last year. Total gross sales declined 26.66% to Rs671.28m from Rs915.36m. Sales tax fell 20.83% to Rs103.09m from Rs130.22m, taking net sales down 27.63% to Rs568.19m from Rs785.13m.

Cost of sales fell faster, by 39.14%, to Rs390.91m from Rs642.31m, which lifted gross profit 24.12% to Rs177.28m from Rs142.83m.

Administrative expenses rose 41.40% to Rs35.97m from Rs25.44m, while selling and distribution expenses increased 69.32% to Rs8.38m from Rs4.95m. Other operating expenses more than doubled to Rs4.51m from Rs2.13m. Total operating expenses grew 50.24% to Rs48.86m from Rs32.52m.

Other income dropped 77.09% to Rs3.01m from Rs13.14m.

As a result, profit from operations grew 6.46% to Rs131.43m from Rs123.45m.

Finance cost rose 11.24% to Rs93.36m from Rs83.92m, and profit before levy and taxation slipped 3.68% to Rs38.07m from Rs39.52m.

Levy and final taxation more than doubled to Rs7.10m from Rs3.12m, taking profit before income tax down 14.93% to Rs30.97m from Rs36.40m.

The company booked no income tax for the period, against Rs12.03m last year, which lifted profit after taxation to Rs30.97m.

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