PIBTL sees sharp 77% profit drop in H1FY25

February 20, 2025 (MLN): Pakistan International Bulk Terminal Limited’s (PSX: PIBTL) profitability took a hit in H1FY25, with net profit plunging by nearly 77% YoY to Rs247.14 million from Rs1.06 billion in the same period last year.

The company’s revenue from contracts with customers dropped 30.7% YoY to Rs5.59bn, compared to Rs8.07bn in H1FY24, amid rising operational challenges.

Meanwhile, gross profit tumbled 64.1% to Rs1.11bn.

Administrative and general expenses remained largely stable at Rs319.19mn.

Other income saw a notable surge of 240.2% YoY, reaching Rs369.53mn.

Finance costs decreased by 21.7% to Rs834.84mn, while the company faced an exchange loss of Rs7.31mn, contrasting with a gain of Rs108.18mn in the previous year.

Profit before income tax dropped 87% YoY to Rs252.29mn, while taxation expenses significantly declined by 99.4%, standing at Rs5.15mn.

The company's total comprehensive income for the period declined 16.3% YoY to Rs883.95mn.

Earnings per share (EPS) also contracted sharply, falling 76.3% to Rs0.14 from Rs0.59 in H1FY24.

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