KARACHI: Grays Leasing Limited reported a net loss for the nine months ended March 31, 2026, reversing the profit it posted during the corresponding period last year, as lower lease income and a higher tax expense weighed on the company’s financial performance.

According to the company’s condensed interim financial statements, Grays Leasing recorded a loss after taxation of Rs1.42 million for the nine-month period, compared with a profit of Rs5.43 million in the same period of the previous year. This translated into a loss per share of Rs0.066, against earnings per share of Rs0.252 a year earlier.

The company’s total revenue declined to Rs15.76 million, down from Rs19.19 million in the corresponding period last year. Income from lease operations, the company’s primary revenue source, fell to Rs14.34 million from Rs17.17 million, while other income also decreased to Rs1.43 million from Rs2.02 million.

Administrative and operating expenses increased to Rs15.30 million, compared with Rs13.49 million in the same period last year. Although financial charges remained relatively low, the higher operating costs, coupled with a tax expense of Rs1.78 million, pushed the company into the red despite reporting a modest profit before taxation of Rs359,951.

For the quarter ended March 31, 2026, Grays Leasing also reported a net loss of Rs842,957, compared with a profit of Rs1.39 million in the corresponding quarter of 2025. Quarterly revenue declined to Rs4.23 million from Rs5.97 million, reflecting continued pressure on leasing operations.

On the balance sheet, the company’s total assets stood at Rs301.47 million as of March 31, 2026, compared with Rs317.34 million at the end of June 2025. Shareholders’ equity declined slightly to Rs75.16 million, while accumulated losses widened to Rs199.10 million. Cash and bank balances, however, improved to Rs11.14 million from Rs6.78 million over the same period.

The Board of Directors, in its meeting held on April 28, 2026, announced that it had not recommended any cash dividend, bonus shares, or right shares for the period under review.