Karachi: Waves Corporation Limited (WAVES) has announced its financial results for the half-year ending June 30, 2026, revealing a steady performance across various metrics. The board of directors, during their meeting on August 28, approved the financial outcomes, which were officially reported on August 31, 2026.
The company declared no cash dividends or other entitlements for the period. The financial results are presented in two formats: condensed interim consolidated and standalone, with further details accessible via the company's website and through PUCARS.
The company's equity and liabilities as of June 30, 2026, totalled Rs. 26.52 billion, an increase from Rs. 25.05 billion noted on December 31, 2025. This growth was primarily driven by an increase in non-controlling interest and a rise in accrued mark-up on borrowings. Meanwhile, equity attributable to the company's owners reached Rs. 10.51 billion, up from Rs. 10.21 billion.
According to information available from the Pakistan Stock Exchange (PSX), sales for the six-month period reached Rs. 3.83 billion, a very large or significant move from the previous year's Rs. 3.71 billion. After accounting for sales tax and trade discounts, the net sales stood at Rs. 2.79 billion, marking a big move from Rs. 2.69 billion in the prior year. The cost of sales rose moderately to Rs. 2.05 billion, resulting in a gross profit of Rs. 742.73 million, down from Rs. 769.78 million, indicating a moderate move.
Operational profit increased to Rs. 1.08 billion from Rs. 795.73 million, influenced by a substantial rise in other income, which more than offset increases in finance costs amounting to Rs. 505.09 million. Profit before tax amounted to Rs. 525.60 million, a big move from Rs. 419.23 million recorded in the corresponding period of the previous year. The company reported a profit of Rs. 582.44 million for the period, with earnings per share reaching Rs. 2.07.
The results reflect Waves Corporation Limited's stable position in the market and its capacity to navigate financial challenges while maintaining profitability.