Nishat Chunian Limited (NCL) has reported a strong improvement in profitability for the nine months ended March 31, 2026, despite a decline in revenue. According to the company’s financial statements, consolidated profit after tax rose to Rs1.115 billion, compared with Rs724.84 million in the same period last year.
The company’s consolidated revenue stood at Rs65.01 billion during the nine-month period, down from Rs67.44 billion a year earlier. Despite the lower revenue, gross profit increased to Rs7.997 billion from Rs7.071 billion, indicating an improvement in gross margins.
At the operating level, consolidated profit from operations climbed to Rs5.926 billion, compared with Rs5.322 billion in the corresponding period of 2025. Finance costs remained substantial at Rs3.834 billion, while profit before tax increased to Rs1.472 billion from Rs837.29 million.
After accounting for taxation of Rs357.01 million, the company posted a consolidated profit after tax of Rs1.115 billion, compared with Rs724.84 million last year. This represents an increase of roughly 54% year on year.
Earnings per share improve
The stronger bottom-line performance was also reflected in earnings per share. Consolidated basic and diluted EPS increased to Rs4.64, compared with Rs3.02 in the same nine-month period last year.
The company also reported a stronger quarterly performance. For the quarter ended March 31, 2026, consolidated revenue was Rs17.75 billion, compared with Rs23.41 billion in the same quarter of 2025. However, gross profit rose to Rs2.886 billion from Rs2.489 billion, while profit after tax increased to Rs629.41 million from Rs465.25 million.
Quarterly EPS consequently improved to Rs2.62, compared with Rs1.94 a year earlier.
Balance sheet and cash flows
Nishat Chunian’s consolidated total assets stood at approximately Rs86.88 billion as of March 31, 2026, compared with Rs76.43 billion at June 30, 2025. Consolidated equity attributable to shareholders of the holding company increased to Rs22.43 billion from Rs21.79 billion.
The company’s cash flow position also remained active. Consolidated cash generated from operations amounted to Rs2.964 billion during the nine months, while capital expenditure on property, plant and equipment reached approximately Rs5.163 billion. The company ended the period with cash and cash equivalents of around Rs199.05 million.
Dividend recommendation
The company’s board meeting held on April 24, 2026 recommended no cash dividend, bonus shares, right shares or other entitlement/corporate action for the period covered by the announcement.
Overall, Nishat Chunian’s nine-month results show a notable improvement in profitability despite softer sales. The rise in gross profit, operating profit and earnings per share points to stronger earnings performance during the period, while the company continues to carry significant finance costs and investment requirements.
