PIBT posts loss of Rs995 million

MG News | September 19, 2022 at 06:32 PM GMT+05:00

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September 19, 2022 (MLN): Pakistan International Bulk Terminal Limited (PIBT) reported a huge loss of Rs995 million in the FY22, the company’s stock filings on the stock exchange showed.

According to company financials, Rs8.39 billion profit after taxation was reported in FY21 and this year reported a huge loss of 0.99bn, translating into an Earning per share of Rs (0.55) this year against EPS of Rs1.04 FY21.

The top line of the PIBT falls by 3.12% to Rs10.52 bn against Rs10.85 bn in FY21. Gross profit falls by 16.13% to Rs2.82 bn against Rs3.37 bn in FY21.

In FY22, PIBT reported a loss before taxation of Rs0.29 bn against Rs2.45 bn profit before taxation in FY21. This huge loss is because of the increasing financial cost of Rs1.11 bn and taxation of Rs0.70bn this year.

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