Karachi: Biafo Industries Limited has reported its financial performance for the quarter ending September 30, 2026, revealing a 22.57% decrease in net sales revenue compared to the same period last year. This decline in revenue was attributed to the absence of a significant export order that had been executed in the corresponding quarter of 2025. The company's net sales revenue for the current quarter stood at Rs. 865.39 million, a notable drop from the Rs. 1,117.65 million recorded in the previous year.

Despite the year-over-year decrease, sales showed a significant increase of 79.42% from the preceding quarter ended June 30, 2026. This surge was driven by increased supplies to the oil and gas sector following renewed exploration activities, as well as higher supplies to the cement sector and distributors.

Gross profit for the quarter also saw a considerable reduction. It decreased by 39.21% to Rs. 265.66 million, compared to Rs. 436.98 million in the same quarter of the previous year. The decline in gross profit was mainly due to lower export volumes and a shift in the sales mix. Profit after tax was recorded at Rs. 100.74 million, down from Rs. 154.40 million in the previous year, with earnings per share dropping to Rs. 2.17 from Rs. 3.33.

According to information available from the Pakistan Stock Exchange (PSX), the company's financial results were within the budget approved by the Board of Directors. However, no interim cash dividend has been recommended for the period under review.

The Board of Directors expressed their appreciation for the hard work and dedication of all employees in overcoming business challenges and supporting the company's growth. They also acknowledged the continued cooperation of all stakeholders.