Karachi: Exide Pakistan Ltd. announced a significant decline in its quarterly profits, as revealed in its financial results for the period ending June 30, 2026. The Board of Directors, during a meeting held on July 29, 2026, disclosed the company's financial performance and decided against any cash dividend, bonus shares, or right shares distributions.

The company's turnover for the first quarter of 2026 was reported at 5.28 billion rupees, a decrease from 7.05 billion rupees in the corresponding quarter of the previous year. This decline in turnover contributed to a decrease in gross profit, which fell to 772.26 million rupees from 1.03 billion rupees, indicating a very large or significant move in the company's financial outcome.

Operating profit also saw a decline, registering at 385.98 million rupees compared to 594.55 million rupees in the first quarter of 2025. Despite a slight increase in other operating income, which rose from 601,000 rupees to 1.023 million rupees, the overall financial charges and other operating costs impacted the profit margins.

According to information available from the Pakistan Stock Exchange (PSX), Exide Pakistan's profit after taxation for the quarter under review stood at 127.42 million rupees, down from 223.34 million rupees in the same period last year. The profit per share decreased from 28.75 rupees to 16.40 rupees.

The company's financial position as of June 30, 2026, indicated a slight increase in net current assets, which rose to 5.19 billion rupees from 5.11 billion rupees as of March 31, 2026. Current liabilities increased to 7.54 billion rupees from 6.49 billion rupees, primarily driven by a rise in short-term borrowings.

Despite the challenges, Exide Pakistan maintained its authorized capital of 180 million rupees, with issued and paid-up capital remaining steady at 77.69 million rupees. The company's total share capital and reserves amounted to 7.57 billion rupees, reflecting a stable financial framework amidst the reported declines.

The results reflect the company's current market dynamics and financial adjustments, highlighting the need for strategic measures to address the ongoing challenges in the automotive battery sector.