Engro Powergen Qadirpur Posts Rs151.4 Million Profit in First Quarter of 2026
Engro Powergen Qadirpur Limited (EPQL) reported a profit of approximately Rs151.4 million for the quarter ended March 31, 2026, according to its unaudited financial results approved by the company’s Board of Directors.
The Board reviewed and approved the financial results at its meeting held on April 17, 2026, in Karachi. The company did not recommend any cash dividend, bonus shares, right shares or other corporate action for the quarter.
Revenue increases during the quarter
EPQL recorded revenue of Rs3.15 billion during the first quarter of 2026, compared with Rs3.09 billion in the same period of 2025. However, the higher revenue was accompanied by an increase in the cost of revenue, which rose to approximately Rs2.88 billion from Rs2.63 billion.
Despite the higher costs, gross profit improved substantially to Rs467.2 million, compared with Rs270.9 million a year earlier.
Operating and bottom-line performance
Profit from operations stood at around Rs159.5 million, compared with Rs358.8 million in the corresponding quarter of 2025. Finance income also moved from a positive Rs26.0 million last year to a net finance expense of approximately Rs6.7 million during the latest quarter.
The financial statements show profit before taxation of approximately Rs152.7 million. After taxation of Rs1.3 million, the period’s profit is approximately Rs151.4 million, consistent with the comparative figures and the statement of changes in equity. Earnings per share stood at Rs0.47, versus Rs1.19 in the same quarter of the previous year.
Note: The extracted profit-and-loss statement contains an apparent presentation inconsistency on the “Profit for the period” line; the Rs151.434 million figure is supported by the tax calculation and the statement of changes in equity.
Financial position remains substantial
As of March 31, 2026, EPQL had total assets of Rs15.75 billion, compared with Rs16.05 billion at the end of December 2025. Total equity stood at approximately Rs11.38 billion.
Current assets increased to Rs6.38 billion from Rs5.86 billion, with trade debts rising to Rs4.02 billion from Rs3.51 billion. Meanwhile, short-term borrowings increased to approximately Rs2.59 billion, compared with Rs2.13 billion at December 31, 2025.
Cash flows under pressure
The company’s cash flow position reflected pressure during the quarter. Net cash generated from operating activities was negative Rs195.0 million, compared with positive Rs5.75 billion in the same period of 2025.
EPQL also reported net cash used in investing activities of Rs15.9 million, while financing activities consumed Rs59.2 million. The company obtained Rs600 million in short-term borrowings and repaid Rs200 million during the quarter, while dividend payments amounted to approximately Rs404.8 million.
No dividend announced
For the quarter ended March 31, 2026, the company recommended no cash dividend, bonus shares, right shares or other entitlement/corporate action. The financial results were identified as the price-sensitive information accompanying the announcement.
Overall, EPQL entered 2026 with modest revenue growth and a significantly stronger gross profit, although operating profit, earnings per share and operating cash generation were lower than in the corresponding period of 2025. The company’s financial position continues to feature a sizeable equity base, while short-term borrowing and cash-flow movements remain important factors for investors to watch.
