PICT faces reduced profit in first half
MG News | August 26, 2025 at 03:06 PM GMT+05:00
August 26, 2025 (MLN): Pakistan International Container (PSX: PICT) reported a sharp decline in its half-year earnings for the period ended June 30, 2025, with profit after taxation dropping 85.3% YoY to Rs40.59 million [EPS: Rs0.37] compared to Rs276.11m [EPS: Rs2.53] in the same period last year (SPLY).
Going by the results, the company's net revenue stood at Rs5m,
while the cost of services amounted to Rs3.6m, resulting in a gross profit of
Rs1.4m for the period.
On the expense side, administrative expenses surged 188.58%
YoY to Rs103.03m and other expenses rose 92.11% YoY to Rs14.5m.
Finance costs slightly declined by 3.01% YoY to Rs0.16m.
Other income decreased significantly by 64.06% YoY to
Rs179.59m.
The company’s profit before tax contracted 86.13% YoY to
Rs63.29m.
After accounting for taxation of Rs22.7m, the company
reported a final profit after taxation of Rs40.59m for the half year.
|
Statement of Profit and
Loss for the Half Year Ended June 30, 2025 (Rs '000') |
|||
|
Description |
Jun-25 |
Jun-24 |
%Change |
|
Revenue - net |
5,000 |
– |
|
|
Cost of services |
(3,602) |
– |
|
|
Gross profit |
1,398 |
– |
|
|
Administrative expenses |
(103,031) |
(35,703) |
188.58% |
|
Other expenses |
(14,504) |
(7,550) |
92.11% |
|
Finance costs |
(161) |
(166) |
-3.01% |
|
Other income |
179,591 |
499,685 |
-64.06% |
|
Profit before tax |
63,293 |
456,266 |
-86.13% |
|
Taxation |
(22,699) |
(180,152) |
-87.40% |
|
Profit / (loss) after
taxation |
40,594 |
276,114 |
-85.30% |
|
Earnings / (loss) per
ordinary share - basic and diluted |
0.37 |
2.53 |
-85.38% |
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