PICT slips into red in 1HCY26

August 19, 2026 (MLN): Pakistan International Container Terminal Limited (PSX: PICT) slipped into the red for the half-year ended June 30, 2026 (1HCY26), reporting a net loss of Rs6.31m compared to a net profit of Rs40.59m in the corresponding period last year.

Reflecting this bottom-line reversal, basic and diluted earnings per ordinary share (EPS) turned negative at a loss per share (LPS) of Rs0.06 for the half-year, compared to an EPS of Rs0.37 in 1HCY25.

The slide into losses was primarily caused by elevated operating costs, reduced non-operating income, and the imposition of statutory levies.

PICT’s net revenue remained flat at Rs5m.

However, the cost of services surged by 94% year-on-year to Rs6.98m (up from Rs3.60m), pushing the company into a gross loss of Rs1.98m compared to a gross profit of Rs1.40m in 1HCY25.

On the operational front, administrative expenses expanded by 9% to Rs111.92m.

Although the company recorded a small unrealized foreign exchange gain of Rs187,000 (reversing a net loss of Rs14.50m last year), "other income" dropped by 21% to Rs142.38m (down from Rs179.59m).

Finance costs also rose by 98% to Rs318,000. These factors pulled profit before levies and taxation down by 55% to Rs28.34m.

Below the pre-levy line, the financial impact was heavily compounded by statutory charges.

The company absorbed a new levy expense of Rs33.90m, dragging the pre-tax position into a loss before taxation of Rs5.56m (compared to a pre-tax profit of Rs63.29m in 1HCY25).

Despite booking a substantially lower taxation expense of Rs750,000 (down from Rs22.70m last year), Pakistan International Container Terminal Limited securely closed the six-month period with an overall net loss of Rs6.31m.

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