Lalpir Power posts over Rs460m loss in Q1 2025

April 29, 2025 (MLN): Lalpir Power Limited (PSX: LPL) released its financial results for the quarter ended March 31, 2025, reporting a loss after tax of Rs462.62 million [LPS: Rs1.22], in contrast to a profit of Rs1.45 billion [EPS: Rs3.81] recorded in the same period last year (SPLY), reflecting a sharp year-on-year (YoY) deterioration of 131.96%.

As per the results, the company reported no revenue from contracts with customers during the review period, compared to Rs8.8bn in SPLY, indicating a halt in generation or dispatch operations.

The cost of sales reported last year stood at Rs6.93bn, which, due to the absence of revenue in the current quarter, resulted in no reported gross profit.

The company also incurred Rs689.55m in plant maintenance and preservation costs, which were not present in the same quarter last year, suggesting operational downtime.

On the expense front, administrative expenses declined significantly by 74.76% YoY to Rs14.14m, while other expenses dropped 44.6% YoY to Rs0.82m.

However, other income turned negative, totaling a loss of Rs704.51m, compared to a gain of Rs1.81bn in the previous year, contributing to the downturn.

The company’s finance costs plummeted by nearly 100% YoY to just Rs0.08m from Rs375.36m, likely due to reduced borrowings or lower working capital requirements during the downtime.

As a result, Lalpir Power reported a pre-tax loss of Rs427.86m, compared to a profit of Rs1.45bn in SPLY. After accounting for taxation of Rs34.76m, the net loss stood at Rs462.62m.

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