Karachi: Blue Ex Limited has announced its annual financial results for the year ending June 30, 2026, revealing a notable downturn in profitability compared to the previous year. The unconsolidated statement of profit or loss, released on November 4, 2026, indicates a loss of 26.61 million rupees, a stark contrast to the profit of 89.89 million rupees recorded in 2025.

The company's revenue for the year was reported at 1.10 billion rupees, a decrease from the 1.14 billion rupees in 2025. This reflects a moderate move of -3.58% in revenue. Cost of revenue also increased, totaling 870.38 million rupees, up from 838.13 million rupees the previous year. Consequently, the gross profit fell to 231.61 million rupees from 304.76 million rupees.

General and administrative expenses saw a substantial rise, reaching 214.64 million rupees from 170.80 million rupees in 2025. The allowance for expected credit losses also surged to 29.77 million rupees from 1.91 million rupees last year. In contrast, marketing and selling expenses slightly decreased to 7.24 million rupees from 7.89 million rupees.

The operating profit turned negative, with a loss of 20.03 million rupees recorded, compared to a profit of 124.16 million rupees in the prior year. According to information available from the Pakistan Stock Exchange (PSX), such figures highlight the pressures facing the company in the current market environment.

Other income fell to 3.59 million rupees from 7.78 million rupees, and finance costs were reduced to 9.89 million rupees from 13.47 million rupees. These factors contributed to a loss before taxation of 27.06 million rupees, while the taxation credit of 0.45 million rupees resulted in a net loss of 26.61 million rupees for the year.

Earnings per share also reflected this downturn, with a restated basic and diluted loss of 0.094 rupees, compared to earnings of 0.328 rupees per share in 2025. The company's financial performance underlines the impact of increased administrative expenses and credit losses, challenging Blue Ex Limited in achieving profitability.