April 30, 2025 (MLN): Wafi Energy Pakistan Limited (PSX: WAFI) reported a profit after tax of Rs872.71 million for the quarter ending March 31, 2025, compared to Rs313.94m in the same period last year, marking a significant increase of 177.99% in profitability.
The company’s revenue saw a decline of 7.03%, dropping to Rs101.59bn from Rs109.27bn in the previous year.
This decrease was primarily driven by a 7.09% drop in sales, which stood at Rs101.3bn compared to Rs109.03bn in the previous year.
Despite the decline in revenue, Wafi Energy managed to maintain its gross profit, which decreased by a modest 3.02% to Rs6.29bn.
The cost of products sold also decreased in line with revenue, dropping by 7.42% to Rs93.43bn.
The company saw a notable reduction in distribution and marketing expenses, which fell by 21.05% to Rs2.34bn, and administrative expenses were reduced by 8.80% to Rs2.71bn.
Additionally, other expenses saw a dramatic increase of 415.26%, rising to Rs481.49m from Rs93.45m.
Operating profit for the quarter stood at Rs1.61bn, reflecting a strong growth of 70.60% compared to the same period last year.
Finance costs rose by 13.24% to Rs601.33m, while the share of profit from associates increased by 7.41% to Rs566.45m.
The company reported a tax expense of Rs579.95m, with current tax increasing by 143.29% to Rs402.74m, while deferred tax grew by 23.96% to Rs177.21m.
Earnings per share (EPS) for the period came in at Rs4.08, a significant rise of 177.55% from Rs1.47 in the previous year.
The total comprehensive income for the quarter stood at Rs872.71m, reflecting a growth of 178.55% compared to Rs313.31m in the same period last year.
The Board of Directors of Wafi Energy Pakistan Limited (WEPL) announced the first quarter results for the company.
For the period ending March 31, 2025, the company reported a profit after tax of Rs873m compared to a profit after tax of Rs314m in the same period last year.
WEPL maintained its market share despite ongoing challenges in the oil industry including rising operational costs from changes to the sales tax regime and persistent illicit petroleum trade demonstrating operational resilience and strong network controls.
The company continues to collaborate with industry stakeholders and engage with regulatory authorities to ensure industry margins accurately reflect cost pressures.
In the Lubricants business, WEPL achieved growth in both the consumer (B2C) and industrial (B2B) segments.
The company secured key strategic partnerships with Original Equipment Manufacturers (OEMs) such as Hyundai and Suzuki. Additionally, the B2B segment maintained its leadership in the mining sector.
In the Mobility segment, WEPL expanded its Shell-branded retail network, adding four new sites and upgrading three existing stations.
Shell V-Power, the company’s premium fuel, achieved its highest-ever quarterly volume, with an industry-leading penetration rate.
WEPL reaffirmed its commitment to social impact through its Tameer platform, which trained 52 entrepreneurs via workshops in Lahore and Rawalpindi.
In celebration of International Women’s Day, WEPL organized a vehicle maintenance and safety session for women in Karachi, equipping participants with essential automotive knowledge and road safety tips.
WEPL remains dedicated to operational excellence, safety, strengthening its financial position, and fulfilling its responsible role in society.
| Financial Result For The Nine Quarter Ended March 31, 2025 (Rupees in '000) | |||
| Mar-25 | Mar-24 | %Change | |
| Sales | 101,298,292 | 109,034,165 | -7.09% |
| Other revenue | 293,766 | 204,443 | 43.69% |
| Total revenue | 101,592,057 | 109,274,608 | -7.03% |
| Sales tax | (2,166,737) | (1,884,057) | 15.00% |
| Net revenue | 99,425,335 | 107,390,551 | -7.42% |
| Cost of products sold | (93,425,335) | (100,908,462) | -7.42% |
| Gross profit | 6,286,253 | 6,482,089 | -3.02% |
| Distribution & marketing expenses | (2,344,829) | (2,969,979) | -21.05% |
| Administrative expenses | (2,708,681) | (2,969,979) | -8.80% |
| Other expenses | (481,485) | (93,445) | 415.26% |
| Other income | 860,066 | 693,479 | 24.02% |
| Operating profit / (loss) | 1,611,324 | 944,494 | 70.60% |
| Finance costs | (601,327) | (531,038) | 13.24% |
| Share of profit of associate – net of tax | 566,450 | 527,372 | 7.41% |
| Profit / (loss) before income tax & minimum tax differential | 1,576,447 | 940,828 | 67.56% |
| Final Taxes | (26,455) | ||
| Minimum tax differential | (97,331) | (318,392) | -69.43% |
| Profit / (loss) before income tax | 1,452,662 | 622,436 | 133.38% |
| Income Tax: | |||
| Current | (402,742) | (165,539) | 143.29% |
| Deferred | (177,209) | (142,959) | 23.96% |
| Net profit / (loss) for the period | 872,710 | 313,938 | 177.99% |
| Other comprehensive income | |||
| Total comprehensive income / (loss) for the period | 872,710 | 313,308 | 178.55% |
| Earnings / (Loss) per share – basic & diluted | 4.08 | 1.47 | 177.55% |
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Posted on: 2025-04-30T14:14:31+05:00
