PIBTL faces Rs320.89m loss in Q1FY25

By MG News | October 23, 2024 at 12:26 PM GMT+05:00

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October 23, 2024 (MLN): The bottom line of Pakistan International Bulk Terminal Limited (PSX: PIBTL) turned red in Q1FY25 as the company reported loss after tax of Rs320.89 million compared to the profit of Rs577.38m in the same period last year.

Going by the results, the company's sales revenue plunged by 47% YoY to Rs2.31bn in the review period as compared to Rs4.37bn in Q1FY24.

During the period under review, other income grew 24.54% YoY to stand at Rs25.53m in Q1FY25 as compared to Rs20.5m last year.

On the expense side, the company's administrative expenses rose 5% from a year ago to Rs159.95m.

The company’s finance cost inched lower by 21.47% to stand at Rs432.56m as compared to Rs550.85m last year.

On the tax front, the company paid a tax worth Rs15.95m in Q1FY25.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep-24	Sep-23	Change %
Revenue - net	2,319,769	4,374,570	-46.97
Cost of services	(2,072,459)	(2,589,673)	-19.97
Gross profit	247,310	1,784,897	-86.14
Administrative and general expenses	(159,958)	(152,310)	5.02
Other income	25,534	20,503	24.54
Finance cost	(432,563)	(550,854)	-21.47
Exchange gain / (loss)	11,858	(54,281)	-
(Loss) / profit before revenue taxes and income taxes	(307,819)	1,047,955	-
Revenue taxes	(29,032)	-	-
(Loss)/profit before income taxes	(336,851)	1,047,955	-
Taxation	15,958	(470,572)	-
Net (loss) / profit for the period	(320,893)	577,383	-
(Loss) / earnings per ordinary share - basic and diluted	(0.18)	0.32	-

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