PICT slips into red in 1HCY26

Pakistan International Container Terminal (PICT) swung to a net loss of Rs6.31m for the six months to June 30, 2026 (1HCY26), against a net profit of Rs40.59m in the same period last year, according to Mettis Global. Loss per share stood at Rs0.06, compared with earnings of Rs0.37 per share in 1HCY25. The report linked the slide mainly to higher operating costs, lower non-operating income and statutory levies.

Net revenue was flat at Rs5m, but cost of services climbed 94 per cent to Rs6.98m from Rs3.60m, leaving a gross loss of Rs1.98m against a gross profit of Rs1.40m a year earlier. Administrative expenses rose 9 per cent to Rs111.92m, while other income fell 21 per cent to Rs142.38m from Rs179.59m. An unrealised exchange gain of Rs187,000 compared with a Rs14.50m loss a year earlier. Profit before levies and taxation still dropped 55 per cent to Rs28.34m.

A levy of Rs33.90m, newly booked, pushed pre-tax figures into a Rs5.56m loss, compared with Rs63.29m of profit before tax in 1HCY25. Taxation fell to Rs750,000 from Rs22.70m, but the period still closed with a net loss of Rs6.31m.