Hifsa Raja

The Pakistan International Bulk Terminal Limited’s revenue was Rs7.46 billion in the nine months ending March 31, 2022, which decreased by 4% compared with Rs7.79 billion in the corresponding period of the previous year. The gross profit showed a year-on-year decrease of 17% to Rs1.93 billion in the nine months of FY22 from Rs2.33 billion profit in the corresponding period of FY21, reports WealthPK.

Similarly, the profit before taxation registered a decrease of 99% during the nine-month period of FY22 reaching Rs9.75 million from Rs1.90 million in the corresponding period of FY21. The profit after taxation showed a decrease of 102% from Rs151 million in the nine months of FY22 compared with Rs8.17 billion over the corresponding period of FY21.

Financial Performance

During the fiscal year 20-21, the company’s net sales were Rs10 billion over Rs9.4 billion in 2019-20, registering an increase of 15%. The gross profit was Rs3.3 billion in 2020-21 over Rs3.01 billion in 2019-20, registering an increase of 12%.  The company’s profit before taxation was Rs2.44 billion in 2020-21 over Rs1.64 billion in 2019-20, registering an increase of 49%.The profit after taxation for FY21 was Rs1.85 billion compared with Rs1.14 billion in FY20, registering an increase of 62%.

Earnings Per Share

In 2019, the earnings per share was minus Rs1.37. The EPS in 2020 and 2021 were both positive. It was Rs0.64 in 2020, Rs1.04 in 2021 and minus Rs0.55 in 2022.

Shareholdings

As of June 30, 2021, associated companies, undertaking and related parties owned 43.3% of shares, directors, chief executive officer, and their spouses and minor children owned 4.4%, banks, development financial institutions, and non-banking financial institutions 1.13%, insurance companies 0.75%, mutual funds, and modarabas 3.98%, foreign entities 1.73%, general public (local) 39%, (foreign) 0.7%, and others owned 5.02%, of total shares, respectively.

Profit or Loss over the Years

Over the preceding four years, the revenue has steadily increased. The profits before and after taxes in 2018 and 2019 were negative but positive in 2020 and 2021. The company was incorporated under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) on March 22, 2010, as a private limited company. The company entered into a Built Operate Transfer (BOT) contract with Port Qasim Authority (PQA) on November 6, 2010, for the construction, development, operations, and management of coal and clinker/cement terminal at Port Mohammad Bin Qasim for 30 years.

Credit : Independent News Pakistan-WealthPk