Oilboy Energy cuts net loss by over 54% in nine-month period

April 29, 2025 (MLN): Oilboy Energy Limited (PSX: OBOY) has reported a net loss of Rs16.8 million for the nine months ended March 31, 2025, compared to a loss of Rs36.7m in the corresponding period last year, reflecting a 54.22% improvement in its financial performance.

The company reported a loss per share of Rs0.67, compared to Rs1.65 in the same period last year, indicating a significant reduction in losses.

The improvement came on the back of a substantial increase in revenue, which surged over 134% to Rs280.5m from Rs119.8m in the previous year.

Correspondingly, the cost of revenue also rose sharply by 123.32% to Rs274.87m, resulting in a gross profit of Rs5.65m, compared to a gross loss of Rs3.25m last year.

Administrative expenses climbed 56.31% to Rs21.91m, continuing to weigh on the company's margins.

Nevertheless, the company’s operating loss narrowed slightly to Rs16.26m from Rs17.35m, showing early signs of operational improvement.

A key positive development was a dramatic rise in other income, which increased to Rs7.85m from just Rs88,000 in the prior year.

Finance costs also declined notably by 37.44% to Rs5.21m, providing additional financial relief.

The company reported a pre-tax loss of Rs14.45bn, down 43.53% from Rs25.59m in the previous year.

Taxation expenses fell significantly by 78.86% to Rs2.35m from Rs11.1m, further easing the net loss.