KARACHI: Ghani Dairies Limited (PSX: GDL) reported a robust financial performance for the nine months ended March 31, 2026, posting a double-digit increase in profitability driven by higher revenue, improved fair value gains on dairy livestock, and strong operational performance.

According to the company’s condensed interim financial statements, net profit for the nine-month period reached Rs392.84 million, up 22.3% from Rs321.35 million recorded during the corresponding period last year. Earnings per share (EPS) stood at Rs0.92, compared with Rs9.89 in the same period last year, reflecting the impact of the company’s share capital restructuring despite higher absolute earnings.

The company’s total revenue from contracts with customers increased to Rs1.61 billion, compared with Rs1.31 billion a year earlier. In addition, gains from the initial recognition of milk at fair value rose to Rs1.67 billion, while gains from changes in the fair value of dairy livestock increased to Rs375.76 million, supporting overall top-line growth.

As a result, total income reached Rs3.66 billion, representing a healthy increase over Rs3.12 billion reported in the same period of the previous year. Gross profit improved by 34% to Rs613.83 million, compared with Rs457.77 million a year ago. Operating profit also advanced to Rs521.09 million, reflecting stronger business fundamentals despite higher administrative expenses.

Profit before taxation rose to Rs421.47 million, up from Rs351.60 million in the corresponding period last year. After accounting for taxation and levy, the company posted a net profit of Rs392.84 million, highlighting continued operational resilience amid a challenging economic environment.

For the quarter ended March 31, 2026, Ghani Dairies earned Rs141.98 million, compared with Rs104.41 million in the same quarter last year, demonstrating sustained earnings momentum.

On the balance sheet, total assets expanded significantly to Rs6.05 billion as of March 31, 2026, compared with Rs2.34 billion at the end of June 2025. Cash and bank balances surged to Rs2.39 billion, reflecting strong liquidity supported by financing activities, including a successful share issuance during the period. Total equity also increased substantially to Rs5.32 billion.

The Board of Directors did not recommend any cash dividend, bonus shares, or right shares for the quarter ended March 31, 2026.