Karachi February 20 2025: Pakistan International Bulk Terminal (PIBTL) profit surged by 19.11 percent in in the second quarter due to lower taxation expense, as per the company’s filing to the stock exchange.
The company’s share price increase by 58 paisas, or 7.15%, in today’s trading session.
PIBTL’s revenue for the second quarter of FY2025 decreased by 13%, down to PKR 3.2 billion from PKR 3.7 billion in the same period last year.
Likewise, the company’s gross profit plunged by 34%, dropping to PKR 866 million compared to PKR 1.4 billion in the second quarter of the previous year.
Finance cost of the company declined to PKR 402 million from PKR 515 million in the same quarter last year. Whereas, income tax of the company reduced to PKR 62 million compared to PKR 413 million reported last year.
Overall, the bulk terminal reported a profit of PKR 568 million for the quarter, compared to the profit of PKR 477 million recorded in the same period last year.
Pakistan International Bulk Terminal Limited was incorporated under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) on March 22, 2010 as a private limited company. The Company has entered into a Built Operate Transfer (BOT) contract with Port Qasim Authority (PQA) on November 06, 2010 for the construction, development, operations and management of coal and clinker/cement terminal at Port Mohammad Bin Qasim for thirty years. After the expiry date, the Company will transfer all the concession assets to PQA.
