Islamabad, August 25, 2026: Saif Power Limited returned to profitability during the six months ended June 30, 2026, posting a profit of Rs60.48 million, compared with a loss of Rs95.75 million in the corresponding period last year.

The company disclosed its financial results following a meeting of its Board of Directors held on August 24, 2026. According to the financial statements, the improvement in the bottom line came despite a significant decline in turnover during the period.

Revenue falls sharply

Saif Power’s net turnover stood at approximately Rs2.43 billion in the first six months of 2026, down from Rs4.52 billion in the same period of 2025. This represents a decline of roughly 46% year on year.

For the April-June quarter, turnover amounted to Rs1.64 billion, compared with Rs3.06 billion in the same quarter last year.

Despite the lower revenue base, the company reported a gross profit of Rs231.1 million for the first half, reversing a gross loss of Rs72.4 million recorded in the same period of 2025.

Return to profitability

The company’s financial performance improved significantly at the bottom line. Profit before tax reached Rs60.48 million, compared with a loss before tax of Rs95.75 million a year earlier.

After-tax profit was also Rs60.48 million, as the financial statements show no income tax charge for the six-month period.

On a per-share basis, earnings stood at Rs0.16, compared with a loss per share of Rs0.25 in the corresponding period of 2025.

The April-June quarter also showed an improvement, with the company recording a profit of Rs2.72 million, against a loss of Rs131.82 million in the same quarter of the previous year.

Finance costs remain significant

While the company returned to profit, financing expenses continued to place pressure on earnings. Finance cost for the six months amounted to Rs282.77 million, although this was lower than the Rs518.25 million recorded in the same period last year.

Administrative expenses also declined to Rs178.53 million from Rs166.54 million previously, while other income stood at Rs266.54 million, compared with Rs516.62 million a year earlier.

The company also recorded a reversal of Rs24.19 million related to expected credit losses on financial assets during the period.

Cash position comes under pressure

Despite the reported profit, Saif Power’s cash flow position weakened considerably.

Net cash used in operating activities amounted to approximately Rs898.53 million during the six months ended June 30, 2026, compared with net cash generated of around Rs4.70 billion in the same period of 2025.

The company’s cash and cash equivalents consequently declined to Rs307.30 million at June 30, 2026, from approximately Rs2.78 billion at the end of June 2025.

Investing activities generated net cash of about Rs100.83 million, while financing activities generated approximately Rs475.04 million during the period.

Equity remains above Rs10 billion

Saif Power’s total equity stood at approximately Rs10.18 billion at June 30, 2026, compared with Rs10.41 billion at December 31, 2025.

The company’s total assets increased to approximately Rs17.93 billion, compared with Rs17.14 billion at the end of 2025.

At the same time, total liabilities rose to approximately Rs7.75 billion from Rs6.73 billion at December 31, 2025.

No dividend announced

The Board of Directors recommended no cash dividend, bonus shares or right shares for the period. The company also reported no other entitlement, corporate action or price-sensitive information in its filing.

Outlook

Saif Power’s first-half results present a mixed picture. The return to profitability and improvement in gross margins are positive developments, while the substantial decline in turnover and the sharp deterioration in operating cash flow remain key areas for investors to watch.

The company’s ability to sustain profitability, strengthen operating cash generation and manage its financing costs will likely remain important factors in assessing its financial performance in the coming quarters.