Lahore: Green Light Energy Ltd has reported a significant rise in profitability for the first quarter of the fiscal year 2027, driven by increased revenue and reduced finance costs. According to the company's latest un-audited condensed interim financial statements for the quarter ended September 30, 2026, profit after tax rose by 40.0% to Rs 41.0 million, supported by a 19.0% increase in net revenue, which totaled Rs 564.6 million.
The Board of Directors of Ningbo Green Light Energy Limited presented these financial results, highlighting a robust performance despite challenges in operational costs. The company's gross profit increased by 11.8% to Rs 108.7 million, although the gross margin slightly declined to 19.3% from 20.5% in the previous year. Operating profit also saw a growth of 12.6% to Rs 48.1 million.
In a strategic financial maneuver, the finance costs were reduced by 62.8% to Rs 5.4 million, attributed to the company's ongoing efforts to lower its lease and borrowing obligations. This reduction significantly bolstered the profit before taxation, which surged by 36.5% to Rs 48.1 million. The earnings per share rose to Rs 2.21, marking a 13.3% increase, albeit with a larger share base of 18,541,800 ordinary shares.
The company's financial position remains strong, with total assets reaching Rs 2,231.1 million, reflecting a 3.1% increase from June 30, 2026. Shareholders' equity grew by 2.3% to Rs 1,847.8 million, equating to a book value of Rs 99.65 per share. Notably, borrowings and lease obligations decreased to Rs 62.7 million, enhancing the company's financial stability.
Trade and other receivables saw an increase of 9.2% to Rs 894.8 million, while advances and prepayments rose significantly by 55.0% to Rs 110.8 million. Conversely, inventories decreased by 22.0% to Rs 142.9 million.
The company's strategic move towards merging with LSE SPAC-1 Limited reached a significant milestone on September 30, 2026, when the Honorable Lahore High Court sanctioned the Scheme of Arrangement for the merger. As a result, LSE SPAC-1 Limited will be delisted, and Green Light Energy Ltd will be listed on the Pakistan Stock Exchange Limited. According to information available from the Pakistan Stock Exchange (PSX), this merger marks a pivotal step in the company's expansion strategy.
In conclusion, Green Light Energy Ltd's first-quarter results reflect a positive trajectory in financial performance, driven by strategic cost management and expansion initiatives. The company's ongoing financial restructuring and merger activities are anticipated to further strengthen its market position in the designated market category.