HUMNL profit plunges 78% to Rs267m in FY26

October 06, 2026 (MLN): Profit for the year at Hum Network Limited (PSX: HUMNL) fell 78.38% year-on-year to Rs267.12m for the fiscal year ended June 30, 2026 (FY26), compared with Rs1.24bn in FY25.

Basic and diluted earnings per share (EPS) declined 77.98% to Rs0.24 from Rs1.09 in the preceding year.

Along with the results, the company declared a final cash dividend of Re0.5 per share (50%) for FY26. This is in addition to the interim cash dividend of Re0.5 per share (50%) already paid.

The decline was driven by lower revenue, weaker gross margins and a more than tripling of other expenses. An income tax credit prevented a loss at the bottom line.

Net revenue fell 24.01% to Rs8.72bn from Rs11.48bn in FY25. Cost of production decreased 19.93% to Rs6.15bn from Rs7.69bn, and transmission cost declined 24.91% to Rs361.46m from Rs481.34m. Gross profit dropped 33.35% to Rs2.21bn from Rs3.31bn.

Distribution expenses fell 29.83% to Rs520.32m from Rs741.52m, while administrative expenses edged down 1.32% to Rs1.60bn from Rs1.62bn. Other income rose 17.96% to Rs828.14m from Rs702.06m, but other expenses more than tripled to Rs835.05m from Rs271.28m.

As a result, operating profit plunged 94.04% to Rs82.33m from Rs1.38bn.

Finance cost increased 32.00% to Rs47.68m from Rs36.12m. The company also recorded a share of loss of joint venture, net of tax, of Rs0.46m, with no such item in FY25.

Profit before final taxes, minimum tax differential and income tax dropped 97.46% to Rs34.19m from Rs1.35bn.

Final taxes rose 74.07% to Rs25.94m from Rs14.90m, while the minimum tax differential declined 15.09% to Rs131.28m from Rs154.61m. This turned the pre-tax result into a loss of Rs123.03m, compared with a profit of Rs1.18bn in FY25.

An income tax credit of Rs390.14m, more than six times the Rs59.56m credit in FY25, lifted the company back into profit and limited the bottom-line decline to 78.38%.

Of the total, profit attributable to owners of the holding company fell 78.38% to Rs267.16m from Rs1.24bn, while non-controlling interest recorded a loss of Rs45,000 compared with a loss of Rs72,000 in FY25.

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