Karachi: Burshane LPG (Pakistan) Limited has reported a significant improvement in its financial and operational performance for the quarter ending September 30, 2026. The company's latest financial statements, released on October 30, 2026, reveal a marked increase in sales volume and profitability, driven largely by strategic shifts in its supply chain management.
The company's operational performance during the quarter exhibited a remarkable surge, with sales volume escalating to 11,469 metric tons, up from 2,873.75 metric tons in the same period last year. This rise of 8,595.25 metric tons represents a 299.08% increase, attributed primarily to the company's strategy of directly importing Liquefied Petroleum Gas (LPG) by sea. During this period, Burshane LPG imported approximately 9,467 metric tons through three shipments, bolstering its supply chain and market presence.
Financially, Burshane LPG experienced a robust enhancement in performance. Net sales escalated to Rs. 3,297.073 million from Rs. 522.396 million, reflecting a 531.14% increase. The gross profit saw an uplift to Rs. 231.744 million from Rs. 30.954 million, marking an improvement of 648.67%. The company turned a previous year's operating loss of Rs. 12.375 million into a profit of Rs. 175.253 million, a positive shift of Rs. 187.628 million.
According to information available from the Pakistan Stock Exchange (PSX), financial costs decreased by 22.77% to Rs. 5.956 million, while other income decreased to Rs. 12.043 million from Rs. 22.837 million. This resulted in a profit before taxation of Rs. 173.097 million, significantly up from Rs. 1.444 million in the previous year. Earnings per share rose to Rs. 7.70, compared with Rs. 0.06 last year.
Despite its financial success, Burshane LPG faces ongoing legal challenges. A complaint lodged by the Directorate of Investigation and Intelligence (Inland Revenue) in August 2020 accused the company of tax evasion amounting to approximately PKR 1.7 billion. Legal orders against the company included freezing of bank accounts and issuance of arrest warrants for certain directors. The company secured protective bail, and the case is pending further hearing. Additionally, tax liabilities for the years 2018 and 2019 were initially set at Rs. 609.79 million and Rs. 617.30 million, respectively, but were later reduced following legal proceedings.
Burshane LPG's financial restructuring efforts include a revised agreement with the National Bank of Pakistan to manage long-term loans and accrued mark-ups, which have been reclassified into different financial facilities. The company has been active in negotiating new terms after facing financial constraints and defaults, although it has fully settled Demand Finance I and is reducing its working capital loan.
As Burshane LPG navigates these legal and financial landscapes, its sponsors continue to provide support to maintain operational continuity and financial obligations. The company's focus remains on expanding its market presence and strengthening its procurement capabilities.