KARACHI: Waves Corporation Limited (PSX: WAVES) reported a modest improvement in its consolidated financial performance for the first quarter ended March 31, 2026, driven by steady sales and stronger operating income. The company’s board approved the quarterly financial results in its meeting held on April 30, 2026.
According to the financial statements, the company’s consolidated net sales increased slightly to Rs1.196 billion during the quarter, compared with Rs1.189 billion in the corresponding period last year. Gross profit also edged higher to Rs345.2 million, reflecting stable business operations despite a challenging economic environment.
Waves Corporation posted a consolidated profit after tax of Rs141.5 million, up from Rs135.7 million recorded in the same quarter of 2025, representing an increase of approximately 4.3%. Earnings per share (EPS) improved to Rs0.50, compared with Rs0.48 a year earlier.
The company’s profit from operations stood at Rs281.6 million, although it remained below the previous year’s Rs296.5 million due to higher administrative, marketing, and finance costs. However, increased other income and a tax credit helped support bottom-line growth during the period.
On the balance sheet, total consolidated assets increased to Rs25.58 billion as of March 31, 2026, compared with Rs25.05 billion at the end of December 2025. Shareholders’ equity also improved to Rs13.77 billion, reflecting the company’s profitable quarter. Cash and bank balances rose significantly to Rs595 million, up from Rs73 million at the beginning of the year, strengthening the company’s liquidity position.
On a standalone basis, Waves Corporation reported a profit after tax of Rs69.3 million, compared with Rs59.4 million in the corresponding quarter last year. Standalone earnings per share increased to Rs0.25 from Rs0.21, indicating improved profitability at the parent company level as well.
The board did not announce any cash dividend, bonus shares, or right shares along with the quarterly results.
Overall, the first-quarter results indicate that Waves Corporation has maintained stable revenue growth while delivering improved profitability, supported by disciplined financial management and stronger non-operating income despite persistent cost pressures.
