April 30, 2026 (MLN): AGP Limited (PSX: AGP) reported an 8.36% year-on-year contraction in net profit for the three months ended March 31, 2026, recording Rs968.41m compared to Rs1.06bn in the corresponding period last year.

The company's earnings per share (EPS) remained broadly stable, edging up 0.66% to Rs3.06 from Rs3.04 in Q1CY25, showing contained per-share impact despite the overall profit decline.

AGP's revenue declined 4.32% to Rs6.85bn from Rs7.16bn. Cost of sales contracted at a faster pace of 5.89% to Rs2.86bn, providing a partial offset. However, gross profit still declined 3.17% to Rs3.99bn from Rs4.12bn.

Administrative expenses rose 15.71% to Rs246.83m while marketing and selling expenses grew 6.12% to Rs1.83bn. Other expenses rose 48.46% to Rs103.97m from Rs70.03m, adding further pressure.

Other income moderated 12.36% to Rs18.61m. Finance costs declined by a meaningful 17.87% to Rs316.40m from Rs385.27m, providing a positive tailwind.

The combined effect resulted in profit before income tax and levies declining 13.60% to Rs1.51bn from Rs1.75bn. A levy charge of Rs47.60m, entirely absent in the prior year, further compressed profit before income tax to Rs1.46bn, a 16.32% decline from Rs1.75bn.

Taxation moderated by 28.49% to Rs494.59m from Rs691.59m, partially cushioning the bottom-line impact.

After accounting for taxation, AGP Limited closed the quarter with a net profit of Rs968.41m, representing an 8.36% contraction over the Rs1.06bn reported in the corresponding period of last year.