Pakistan International Bulk Terminal Limited (PIBT) has reported a significant improvement in its financial performance for the nine months ended March 31, 2026, turning last year’s small loss into a substantial profit.

According to the company’s financial results, PIBT recorded revenue of Rs11.70 billion during the nine-month period, compared with Rs7.44 billion in the same period of the previous year. This represents a strong increase in revenue and was accompanied by a major improvement in profitability.

The company’s gross profit climbed to Rs3.86 billion, compared with Rs1.54 billion a year earlier. Administrative and general expenses stood at Rs1.04 billion, while finance costs declined considerably to Rs562.1 million from Rs1.09 billion in the corresponding period.

As a result, PIBT posted a profit before income taxes of Rs2.35 billion, compared with a loss before tax of Rs134.4 million in the same period last year. After accounting for income tax of Rs220.9 million, the company reported a net profit of Rs2.13 billion, compared with a net loss of Rs4.9 million previously.

The turnaround was also reflected in earnings per share. Basic earnings per share rose to Rs1.191, compared with a loss per share of Rs0.003 in the nine months ended March 31, 2025.

Strong quarterly performance

PIBT’s performance in the third quarter also showed a marked improvement. Revenue for the quarter ended March 31, 2026 reached Rs3.51 billion, compared with Rs1.85 billion in the same quarter of the previous year.

Quarterly gross profit increased to Rs1.12 billion, from just Rs65.2 million previously. The company recorded a profit before tax of Rs630.7 million, reversing a loss before tax of Rs515.9 million in the corresponding quarter.

Net profit for the quarter stood at Rs590.1 million, compared with a net loss of Rs469.1 million a year earlier. Quarterly earnings per share improved to Rs0.330, from a loss per share of Rs0.263.

Balance sheet and cash position

The company’s total assets stood at approximately Rs30.75 billion as of March 31, 2026, compared with Rs28.41 billion as of June 30, 2025. Total equity and reserves increased to around Rs17.59 billion, from Rs15.46 billion.

PIBT also generated Rs2.47 billion in net cash from operating activities during the nine-month period. After investing and financing activities, the company ended the period with cash and cash equivalents of approximately Rs569.1 million.

The company’s long-term financing stood at around Rs2.90 billion at March 31, 2026, compared with Rs3.47 billion at the end of June 2025, reflecting repayments during the period.

No dividend announced

Despite the significant improvement in profitability, PIBT’s Board of Directors did not recommend a cash dividend, bonus shares, rights shares, or any other entitlement/corporate action alongside the March 2026 financial results. The announcement was issued following the board meeting held on April 21, 2026.

Overall, PIBT’s latest results show a notable financial turnaround, driven by higher revenue, stronger gross profitability and lower finance costs. The company’s move from a loss position to more than Rs2 billion in nine-month net profit marks a significant improvement in its financial performance compared with the previous year.