Islamabad: Biafo Industries Limited, a key player in the explosives sector, has reported an increase in net sales volume for the nine months ending March 31, 2025. According to the company's un-audited accounts, net sales increased by 4.56% to Rs. 2,198.51 million, compared to Rs. 2,102.59 million in the same period last year. In the quarter leading to March 2025, the company experienced a significant increase in net sales volume by 33.91%, amounting to Rs. 973.13 million, compared to Rs. 726.71 million in the previous year.

During the period under review, Biafo Industries saw a decrease in supplies to the export sector. However, supplies to the Oil and Gas, mining, and large project sectors increased due to heightened exploration and mining activities compared to the period ending March 2024. The company has recently secured a contract with Riko Diq Mining Co. for providing explosives and blasting services for the civil works phase of the Reko Diq project, which is expected to commence by June 2025.

Despite the increase in sales, Biafo Industries experienced a decline in its gross profit to sales ratio, which decreased by 19.16% to Rs. 770.93 million, compared to Rs. 953.70 million in the previous year's comparable period. The company also reported a 30.48% decrease in net profit after taxation, which amounted to Rs. 123.04 million, resulting in an earnings per share (EPS) of Rs. 6.05 compared to Rs. 8.70 in March 2024. According to information available from the Pakistan Stock Exchange (PSX), the company's expenses were maintained within the budget as approved by the Board of Directors.

In light of the financial performance, the Board of Directors has proposed an interim cash dividend of Rs. 1.50 per share for the period under review. The Board expressed appreciation to all employees for their hard work and continued efforts in meeting business challenges and fostering the growth of the company, as well as the cooperation of all stakeholders.