PIBTL sees decline in profitability

April 22, 2025 (MLN): Pakistan International Bulk Terminal Limited (PSX: PIBTL) reported a net loss of Rs262.68 million [LPS: Rs0.15] for the nine months ended March 31, 2025, compared to a profit of Rs1.39 billion [EPS: Rs0.78] in the same period last year.

This downturn followed a significant 36.2% drop in revenue, which fell to Rs7.44bn from Rs11.67bn last year.

Despite a 15.8% decrease in the cost of services to Rs6.1bn, gross profit plunged by 69.7% to Rs1.34bn, down from Rs4.42bn in the prior period.

Administrative and general expenses increased by 28.2% to Rs849.3m, while other income surged by 197% to Rs388.01m.

The finance cost declined by 29.6% to Rs1.08bn, whereas the company posted an exchange loss of Rs28.06m compared to a gain of Rs189.2m last year.

Loss before income taxes stood at Rs328.2m, as against a profit of Rs2.54bn in the corresponding period.

A tax income of Rs65.52m was recorded in the period under review, versus a tax expense of Rs1.15bn previously.

The company booked a surplus of Rs636.81m on the revaluation of property, plant, and equipment, resulting in a total comprehensive income of Rs374.13m for the period, still down 73.1% from Rs1.39bn last year.

Copyright Mettis Link News