BGL’s net loss soars 155% in H1FY25 despite record revenue growth

February 24, 2025 (MLN): Balochistan Glass Limited (PSX: BGL) reported a significant increase in its net loss for the six-month period ending December 31, 2024, recording a loss of Rs458.29 million [LPS: Rs1.75], reflecting a 155.46% increase compared to the loss of Rs179.39mn [LPS: Rs0.69] in the same period last year (SPLY).

Despite this, the company's revenue witnessed an extraordinary surge of 5272.74% YoY, reaching Rs625.87mn from Rs11.65mn in SPLY.

However, the sharp rise in the cost of sales, which jumped by 798.75% YoY to Rs931.64mn, significantly impacted profitability, leading to a gross loss of Rs305.77mn, up 232.32% YoY.

Administrative and selling expenses also saw a sharp rise of 358.60% YoY, amounting to Rs36.99mn.

Meanwhile, other income increased significantly to Rs40.13mn, providing some relief.

Operating loss widened to Rs302.64mn, marking a 202.44% YoY increase, while finance costs rose by 84.78% YoY to Rs151.69mn.

Consequently, the company posted a loss before levies and income tax of Rs454.33mn, up 149.41% YoY.

Levies also surged 5258.22% YoY to Rs7.82mn, leading to a pre-tax loss of Rs462.15mn, 153.50% higher than in SPLY.

However, deferred tax relief of Rs3.87mn helped slightly reduce the overall loss.

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