International Packaging Films Limited (IPAK) has reported a significant improvement in profitability for the nine months ended March 31, 2026, with consolidated profit attributable to owners of the holding company rising sharply compared with the same period last year.

According to the financial results submitted to the Pakistan Stock Exchange, the company’s Board of Directors met on April 16, 2026, and announced no cash dividend, bonus shares, right shares, or other corporate action for the period.

Consolidated Revenue Rises 17%

For the nine-month period, International Packaging Films recorded consolidated revenue of Rs30.43 billion, compared with Rs26.06 billion in the corresponding period of 2025. This represents an increase of around 16.8%.

The improvement in revenue was accompanied by a stronger gross profit, which increased to Rs5.78 billion from Rs3.62 billion a year earlier. The gross profit margin therefore improved considerably during the period.

Operating profit also climbed to Rs4.64 billion, compared with Rs2.77 billion in the same period last year.

Profit More Than Doubles

One of the most notable developments was the increase in profit before tax. Consolidated profit before income tax reached Rs3.20 billion, compared with Rs1.11 billion in the nine months ended March 31, 2025.

Finance costs declined to Rs1.44 billion, from Rs1.66 billion previously, helping support the improvement in profit before tax. After accounting for income tax expense of Rs840.7 million, consolidated profit after tax stood at Rs2.36 billion, compared with Rs748.5 million in the prior-year period.

Profit attributable to owners of the holding company increased to Rs2.57 billion, compared with Rs1.09 billion a year earlier. Basic and diluted earnings per share rose to Rs3.50, from Rs1.48.

The latest quarter also showed continued improvement, with quarterly profit after tax reaching Rs896.7 million, compared with Rs371.6 million in the corresponding quarter of 2025.

Parent Company Also Posts Higher Profit

On an unconsolidated basis, International Packaging Films reported revenue of Rs9.94 billion for the nine months, compared with Rs10.20 billion in the same period last year.

Despite the modest decline in revenue, gross profit increased to Rs2.24 billion from Rs1.77 billion. Operating profit rose to Rs2.02 billion, while finance costs fell substantially to Rs657.3 million, compared with Rs1.06 billion previously.

As a result, unconsolidated profit after tax increased to Rs809.7 million, compared with Rs423.5 million in the corresponding period. Earnings per share improved to Rs1.10, from Rs0.58.

Financial Position Strengthens

The company’s consolidated total assets stood at Rs45.17 billion as of March 31, 2026, compared with Rs43.62 billion at June 30, 2025.

Shareholders’ equity, including non-controlling interest, increased to Rs18.56 billion, from Rs16.47 billion. The company also reported consolidated cash and bank balances of Rs1.14 billion at the end of the period.

The statement of changes in equity shows that the company issued 5 bonus shares for every 100 shares held, increasing paid-up share capital from Rs7.00 billion to Rs7.35 billion. It also paid the final cash dividend for FY2025 at Rs0.60 per share, amounting to Rs420.12 million.

Operating Cash Flow Turns Positive

Cash generation also improved significantly. Consolidated net cash generated from operating activities reached Rs1.64 billion during the nine months, compared with a net operating cash outflow of Rs4.76 billion in the same period of 2025.

The company invested Rs611.2 million in property, plant and equipment during the period. Financing activities generated net cash of Rs125.6 million, while dividend payments amounted to Rs418.4 million.

At the unconsolidated level, net cash generated from operating activities was Rs1.13 billion, compared with an outflow of Rs894.7 million a year earlier.

No New Corporate Action Announced

Alongside the financial results, the company confirmed that its Board had recommended no cash dividend, bonus shares, right shares, or other entitlement/corporate action in relation to the third-quarter results.

Overall, the nine-month financial statements show a marked improvement in International Packaging Films’ consolidated profitability, supported by higher revenue, stronger gross profit, lower finance costs and a substantial improvement in operating cash generation.