Wafi Energy reports slight decline in half-year earnings

MG News | August 22, 2025 at 09:52 AM GMT+05:00

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August 22, 2025 (MLN): Wafi Energy Pakistan Limited (PSX: WAFI) reported a profit after tax of Rs1.28 billion for the half year ended June 30, 2025, compared to Rs1.32bn in the same period last year, reflecting a slight decline of 3.08% in profitability.

The company’s sales inched up by 0.92%, reaching Rs225.6bn against Rs223.54bn in the previous year, while total revenue grew by 1.03% to Rs226.32bn.

Net revenue stood at Rs221.7bn, an increase of 0.85% from last year’s Rs219.84bn.

Gross profit rose by 12.13% to Rs13.94bn, supported by a modest 0.17% increase in the cost of products sold, which amounted to Rs207.76bn.

Distribution and marketing expenses decreased by 15.99% to Rs5.31bn, while administrative expenses declined by 20.53% to Rs4.59bn.

However, other expenses grew by 8.23% to Rs1.23bn.

Other income dropped sharply by 71.31% to Rs999.65m, compared to Rs3.48bn a year earlier.

As a result, operating profit improved by 16.87% to Rs3.81bn.

Finance costs rose by 11.74% to Rs1.17bn, while the share of profit from associates decreased by 11.08% to Rs1.12bn.

Profit before income tax increased by 20.16% to Rs3.38bn, compared to Rs2.81bn last year.

Total income tax expense surged by 40.65% to Rs2.10bn, driven by higher current tax of Rs2.02bn and deferred tax of Rs77.98m.

Earnings per share (EPS) for the half year came in at Rs5.97, down from Rs6.16 in the previous year.

Statement of Profit and Loss for the Half Year Ended June 30, 2025 (Rs '000')
	Jun-25	Jun-24	%Change
Sales	225,604,401	223,540,732	0.92%
Other Revenue	714,881	464,881	53.78%
Total Revenue	226,319,282	224,005,613	1.03%
Sales Tax	(4,619,254)	(4,165,585)	10.89%
Net Revenue	221,700,028	219,840,017	0.85%
Cost of Products Sold	(207,760,761)	(207,408,984)	0.17%
Gross Profit	13,939,267	12,431,033	12.13%
Distribution & Marketing Expenses	(5,312,226)	(6,323,143)	-15.99%
Administrative Expenses	(4,587,874)	(5,772,871)	-20.53%
Other Expenses (Note 15)	(1,228,367)	(1,134,945)	8.23%
Other Income	999,647	3,484,632	-71.31%
Operating Profit	3,810,447	3,260,306	16.87%
Finance Costs	(1,169,705)	(1,046,820)	11.74%
Profit Before Associate Share	2,640,742	2,213,576	19.30%
Share of Profit of Associate (Net of Tax)	1,120,767	1,260,491	-11.08%
Profit Before Final Taxes & Income Tax	3,761,509	3,474,067	8.27%
Final Taxes	(202,556)
Minimum Tax Differential	(178,378)	(660,695)	-73.00%
Profit Before Income Tax	3,380,575	2,813,372	20.16%
Income Tax - Current	(2,024,972)	(324,832)	523.39%
Income Tax - Deferred	(77,981)	(1,170,353)	-93.34%
Total Income Tax	(2,102,953)	(1,495,177)	40.65%
Profit After Income Tax	1,277,622	1,318,205	-3.08%
Other Comprehensive Income
Share of OCI of Associate (Not Reclassified)	(17,662)	138,412
Share of OCI of Associate (Reclassified)	—	(5,685)
Total Comprehensive Income	1,259,960	1,450,932	-13.16%
Earnings Per Share (Basic & Diluted)	5.97	6.16	-3.08%

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