Pak-Gulf Leasing Company Limited reported a profit after taxation of Rs54.15 million for the nine months ended March 31, 2026, compared with Rs60.96 million in the same period last year, according to the company’s unaudited financial results.
The company’s financial performance remained profitable during the period, although earnings came under pressure as income from financing operations and investment returns declined.
Income comes under pressure
Pak-Gulf Leasing’s income from financing operations fell to Rs80.58 million during the nine-month period, compared with Rs113.65 million a year earlier.
Income from other activities also declined. Return on investments stood at Rs13.35 million, down from Rs46.84 million, while other income increased slightly to Rs12.72 million from Rs12.39 million.
As a result, total income dropped to approximately Rs106.64 million, compared with Rs172.88 million in the corresponding period of 2025.
Lower finance costs provide some relief
The company’s administrative and operating expenses increased to Rs47.35 million from Rs43.73 million. However, finance costs declined sharply to Rs6.41 million, compared with Rs32.84 million a year earlier.
Operating profit before provisions was recorded at Rs53.76 million, down from Rs76.57 million in the same period last year.
The financial statements also show provisions and reversals related to lease receivables under litigation and potential lease losses, which affected the company’s profitability during the period. Profit before tax stood at Rs56.57 million, compared with Rs87.45 million a year earlier.
Earnings per share decline
After accounting for taxation, Pak-Gulf Leasing posted a net profit of Rs54.15 million, compared with Rs60.96 million in the nine-month period ended March 31, 2025.
The company’s basic and diluted earnings per share decreased to Rs1.09 from Rs1.23.
Despite the year-on-year decline, the company remained firmly profitable during the period.
Quarterly performance shows improvement
The company’s performance during the latest three-month period was comparatively stronger. Profit after taxation reached Rs21.78 million in the quarter ended March 31, 2026, compared with Rs14.62 million in the same quarter last year.
This improvement suggests that the company’s profitability gained momentum toward the end of the nine-month period, even though its cumulative earnings remained below the previous year’s level.
No dividend announced
Along with the financial results, Pak-Gulf Leasing informed the Pakistan Stock Exchange that its board had recommended no cash dividend, bonus shares or right shares for the period.
Overall, Pak-Gulf Leasing’s nine-month results reflect a mixed financial picture: lower financing and investment income weighed on earnings, while a substantial reduction in finance costs and stronger quarterly profitability provided some support. The company will now need to focus on strengthening its core financing income and maintaining the improvement seen in the final quarter of the reported period.
