PICT 9MCY26 profit falls 30%
MG News | October 27, 2026 at 02:36 PM GMT+05:00
October 27, 2026 (MLN): Pakistan International Container
Terminal Limited (PSX: PICT) reported a 30% decline in its net profit
for the nine months ended September 30, 2026 (9MCY26), recording Rs35.80m
compared to Rs51.50m in the corresponding period last year.
Reflecting this bottom-line
compression, basic and diluted earnings per ordinary share (EPS) fell to Rs0.33,
down from Rs0.47 in 9MCY25.
However, for the third quarter
(Q3CY26) alone, net profit surged 2.9x to Rs42.10m (EPS of Rs0.39)
compared to Rs10.91m (EPS of Rs0.10) in Q3CY25, driven by an expansion
in quarterly terminal activity and positive gross margins.
The primary factor weighing on the
nine-month performance was the absorption of statutory levies of Rs39.46m
alongside an 18% decline in "other income", which offset an
improvement in operational activity and unrealized exchange gains.
Net revenue for 9MCY26 expanded to Rs59.25m
(up from Rs7.50m in 9MCY25). With cost of services standing at Rs60.79m
(up from Rs6.75m), PICT posted a nominal gross loss of Rs1.54m compared
to a gross profit of Rs755 thousand in the prior-year period.
On the operational side,
administrative expenses contracted 3% to Rs142.96m (down from
Rs146.74m).
Operating performance was supported by
an unrealized exchange gain of Rs545 thousand (reversing an exchange
loss of Rs51.32m in 9MCY25).
Although "other income" contracted
18% to Rs221.31m (down from Rs270.05m), profit before levies and
taxation rose 5% to Rs76.00m.
Below the operating line, the
imposition of statutory levies of Rs39.46m (versus nil in 9MCY25) and
higher finance costs of Rs1.36m reduced profit before taxation by 50% to
Rs36.54m.
The company recorded a significantly
lower taxation charge of Rs741 thousand for the period (down 96% from
Rs21.04m in 9MCY25).
Supported by treasury income,
disciplined administrative overheads, and a strong Q3 rebound, Pakistan
International Container Terminal Limited closed the nine-month period with a
net profit of Rs35.80m.
|
STATEMENT OF PROFIT OR
LOSS FOR NINE MONTHS ENDED SEPTEMBER 30, 2026 (Rs.000) |
|||
|
Description |
2026 |
2025 |
change % |
|
Revenue - net |
59,246 |
7,500 |
689.9% |
|
Cost of services |
(60,786) |
(6,745) |
801.2% |
|
Gross (loss) / profit |
(1,540) |
755 |
|
|
Administrative expenses |
(142,956) |
(146,744) |
-2.6% |
|
Exchange difference
unrealized - net |
545 |
(51,318) |
|
|
Finance costs |
(1,363) |
(210) |
549.0% |
|
Other income |
221,311 |
270,052 |
-18.0% |
|
Profit before levies and
taxation |
75,997 |
72,535 |
4.8% |
|
Levies |
(39,457) |
- |
|
|
(Loss) / profit before
taxation |
36,540 |
72,535 |
-49.6% |
|
Taxation |
(741) |
(21,035) |
-96.5% |
|
(Loss) / profit for the
period |
35,800 |
51,500 |
-30.5% |
|
Earnings per ordinary
share - basic and diluted (Rupees) |
0.33 |
0.47 |
-29.8% |
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