The Pakistan Credit Rating Agency Ltd (GEMPACRA) quarterly income statement

The Pakistan Credit Rating Agency Ltd reported revenue of Rs 149.7 mn for Q4 FY2026 (Apr – Jun 2026). Gross profit came to Rs 149.7 mn, a gross margin of 100.0%. Operating profit was Rs 69.1 mn (an operating margin of 46.1%). Finance cost was Rs 436,618. Tax of Rs 3.6 mn took 8.2% of pre-tax profit. Profit attributable to shareholders was Rs 39.9 mn, or Rs 0.54 per share.

GEMPACRA income statement (quarterly) (Rs mn)
Rs mn	TTM to Jun 2026	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 * Apr – Jun 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024
Revenue	538.1	149.7	123.2	149.0	116.1	—	115.0	122.6
Gross profit	538.1	149.7	123.2	149.0	116.1	—	115.0	122.6
Selling, general & administrative expenses	(297.5)	(71.0)	(74.5)	(80.9)	(71.1)	—	(70.7)	(70.1)
Operating profit	203.9	69.1	39.9	59.3	35.6	—	35.3	44.6
Finance cost	(2.3)	(0.4)	(0.6)	(0.2)	(1.0)	—	(0.5)	(0.6)
Profit before tax	193.9	43.5	46.7	64.6	39.1	—	34.1	48.3
Taxation	(60.8)	(3.6)	(24.6)	(20.7)	(11.9)	—	(6.8)	(18.9)
Profit after tax	133.1	39.9	22.1	43.9	27.2	—	27.3	29.4
Profit attributable to shareholders	133.1	39.9	22.1	43.9	27.2	—	27.3	29.4
Per share & other
EPS – basic (Rs) Rs	1.79	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS – diluted (Rs) Rs	1.79	0.54	0.30	0.59	0.37	—	0.37	0.39
Dividend per share (Rs) Rs	0.00	0.00	0.00	0.00	0.00	—	0.00	0.00
EBITDA	221.1	73.2	44.0	63.9	40.1	—	39.3	47.6
Depreciation & amortisation	17.2	4.1	4.0	4.6	4.5	—	4.0	3.0
Weighted average shares mn	74.5	74.5	74.5	74.5	74.5	—	74.5	74.5

GEMPACRA income statement — year-on-year change (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 * Apr – Jun 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024
Revenue	—	+7.1%	+21.5%	—	—	—	—
Gross profit	—	+7.1%	+21.5%	—	—	—	—
Selling, general & administrative expenses	—	+5.3%	+15.4%	—	—	—	—
Operating profit	—	+12.9%	+32.9%	—	—	—	—
Finance cost	—	+11.4%	-57.5%	—	—	—	—
Profit before tax	—	+36.8%	+33.7%	—	—	—	—
Taxation	—	+259.6%	+9.2%	—	—	—	—
Profit after tax	—	-19.0%	+49.5%	—	—	—	—
Profit attributable to shareholders	—	-19.0%	+49.5%	—	—	—	—
Per share & other
EPS – basic (Rs)	—	-19.0%	+49.5%	—	—	—	—
EPS – diluted (Rs)	—	-19.0%	+49.5%	—	—	—	—
Dividend per share (Rs)	—	—	—	—	—	—	—
EBITDA	—	+11.7%	+34.2%	—	—	—	—
Depreciation & amortisation	—	+1.0%	+54.3%	—	—	—	—
Weighted average shares	—	—	—	—	—	—	—

Change against the same quarter a year earlier; shown when the earlier figure is positive.

GEMPACRA income statement — common size (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 * Apr – Jun 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024
Revenue	100.0%	100.0%	100.0%	100.0%	—	100.0%	100.0%
Gross profit	100.0%	100.0%	100.0%	100.0%	—	100.0%	100.0%
Selling, general & administrative expenses	(47.4%)	(60.4%)	(54.3%)	(61.3%)	—	(61.5%)	(57.1%)
Operating profit	46.1%	32.4%	39.8%	30.7%	—	30.7%	36.4%
Finance cost	(0.3%)	(0.5%)	(0.2%)	(0.9%)	—	(0.5%)	(0.5%)
Profit before tax	29.1%	37.9%	43.3%	33.7%	—	29.7%	39.4%
Taxation	(2.4%)	(19.9%)	(13.9%)	(10.3%)	—	(5.9%)	(15.4%)
Profit after tax	26.7%	17.9%	29.5%	23.4%	—	23.7%	23.9%
Profit attributable to shareholders	26.7%	17.9%	29.5%	23.4%	—	23.7%	23.9%
Per share & other
EBITDA	48.9%	35.7%	42.9%	34.5%	—	34.2%	38.8%
Depreciation & amortisation	2.7%	3.3%	3.1%	3.8%	—	3.5%	2.4%

Each line as a percentage of revenue.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. TTM = the latest four quarters added together. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 87

GEMPACRA income statement — all reported line items (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024
Revenue from Goods & Services	149.7	123.2	149.0	116.1	—	115.0	122.6
Sales of Goods & Services - Net - Unclassified	149.7	123.2	149.0	116.1	—	115.0	122.6
Revenue from Business Activities - Total	149.7	123.2	149.0	116.1	—	115.0	122.6
Selling, General & Administrative Expenses - Total	71.0	74.5	80.9	71.1	—	70.7	70.1
Selling, General & Administrative Expenses - Unclassified	8.7	9.6	12.0	7.2	—	7.4	7.3
Other Operating Expense/(Income) - Net	9.6	8.9	8.9	9.3	—	9.0	8.0
Gross Profit - Industrials/Property - Total	149.7	123.2	149.0	116.1	—	115.0	122.6
Operating Expenses - Total	80.6	83.3	89.7	80.5	—	79.7	78.0
Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses	62.3	64.9	68.8	63.9	—	63.3	62.8
Operating Profit before Non-Recurring Income/(Expense)	69.1	39.9	59.3	35.6	—	35.3	44.6
Financing Income/(Expense) - Net - Total	3.7	2.8	2.5	2.0	—	3.6	3.0
Interest Expense - Net of (Interest Income)	(0.9)	(0.7)	(0.9)	(0.8)	—	(2.7)	(2.1)
Other Operating Expense	9.6	8.9	8.9	9.3	—	9.0	8.0
Interest Expense - Net of Capitalized Interest	0.4	0.6	0.2	1.0	—	0.5	0.6
Non-Interest Financial Income/(Expense) - Total	2.8	2.1	1.6	1.2	—	0.9	1.0
Equity Earnings/(Loss) - before Taxes including Non-Recurring	3.4	2.9	3.2	0.8	—	(5.9)	(0.5)
Other Non-Operating Income/(Expense) - Total	(32.7)	1.0	(0.4)	0.7	—	1.1	1.2
Normalized Pre-tax Profit	43.5	46.7	64.6	39.1	—	34.1	48.3
Interest Income - Non-Bank	1.4	1.3	1.2	1.8	—	3.2	2.6
Amortization of Deferred Financing Charges	—	—	—	—	—	0.0	—
Sale of Investments Held for Sale, Maturity & Trading - Gain/(Loss)	2.8	2.1	1.6	1.2	—	0.9	1.0
Provision for Income Tax Expense- Unclassified	3.6	24.6	20.7	11.9	—	6.8	18.9
Income before Taxes	43.5	46.7	64.6	39.1	—	34.1	48.3
Income Taxes	3.6	24.6	20.7	11.9	—	6.8	18.9
Net Income after Tax	39.9	22.1	43.9	27.2	—	27.3	29.4
After-Tax Adjustments - Other - Income/(Expense) - Total	—	—	—	0.0	—	—	0.0
Income before Discontinued Operations & Extraordinary Items	39.9	22.1	43.9	27.2	—	27.3	29.4
Net Income before Minority Interest	39.9	22.1	43.9	27.2	—	27.3	29.4
Net Income after Minority Interest	39.9	22.1	43.9	27.2	—	27.3	29.4
Income Available to Common Shares	39.9	22.1	43.9	27.2	—	27.3	29.4
DPS - Common - Gross - Issue - By Period End Date Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
Net Income - Basic - including Extraordinary Items Applicable to Common - Total	39.9	22.1	43.9	27.2	—	27.3	29.4
Income available to Common excluding Extraordinary Items	39.9	22.1	43.9	27.2	—	27.3	29.4
Shares used to calculate Basic EPS - Total mn	74.5	74.5	74.5	74.5	—	74.5	74.5
EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific	39.9	22.1	43.9	27.2	—	27.3	29.4
Earnings Allocation Factor - Basic - Issue Specific	1.00×	1.00×	1.00×	1.00×	—	1.00×	1.00×
Shares used to calculate Basic EPS - Issue Specific mn	74.5	74.5	74.5	74.5	—	74.5	74.5
EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Basic from Discontinued Operations & Extraordinary Items Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
Net Income - Diluted - including Extraordinary Items Applicable to Common - Total	39.9	22.1	43.9	27.2	—	27.3	29.4
Diluted Income available to Common excluding Extraordinary Items	39.9	22.1	43.9	27.2	—	27.3	29.4
Shares used to calculate Diluted EPS - Total mn	74.5	74.5	74.5	74.5	—	74.5	74.5
EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific	39.9	22.1	43.9	27.2	—	27.3	29.4
Earnings Allocation Factor - Diluted - Issue Specific	1.00×	1.00×	1.00×	1.00×	—	1.00×	1.00×
Shares used to calculate Diluted EPS - Issue Specific mn	74.5	74.5	74.5	74.5	—	74.5	74.5
EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs	0.54	0.30	0.59	0.37	—	0.37	0.39
EPS - Diluted from Discontinued Operations & Extraordinary Items Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
DPS - Common - Gross - Issue - By Announcement Date Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
DPS - Common - Net - Issue - By Announcement Date Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
Earnings before Interest & Taxes (EBIT)	69.1	39.9	59.3	35.6	—	35.3	44.6
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA)	73.2	44.0	63.9	40.1	—	39.3	47.6
Depreciation & Amortization - Supplemental	—	—	—	2.2	—	—	—
Depreciation Expense - Total - Supplemental	—	—	—	2.2	—	—	—
Depreciation - Financial Lease Right-of-Use Assets - Supplemental	—	—	—	2.2	—	—	—
Depreciation, Depletion & Amortization - Total	4.1	4.0	4.6	4.5	—	4.0	3.0
Depreciation - Total	4.0	3.9	4.0	4.0	—	3.6	2.6
Amortization of Intangible Assets excluding Goodwill - Total	0.1	0.1	0.6	0.4	—	0.4	0.4
Labor & Related Expenses - Total	62.3	64.9	68.8	63.9	—	63.3	62.8
Labor & Related Expenses - Supplemental	62.3	64.9	68.8	63.9	—	63.3	62.8
Normalized after Tax Profit	39.9	22.1	43.9	27.2	—	27.3	29.4
Normalized Net Income from Continuing Operations	39.9	22.1	43.9	27.2	—	27.3	29.4
Normalized Net Income - Bottom Line	39.9	22.1	43.9	27.2	—	27.3	29.4
Earnings before Interest & Taxes (EBIT) - Normalized	42.6	46.0	63.7	38.3	—	31.4	46.2
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized	46.7	50.0	68.3	42.8	—	35.4	49.2
Depreciation of Financial Lease Right-of-Use Assets	—	—	—	2.2	—	—	—
Interest Expense	0.4	0.6	0.2	1.0	—	0.5	0.6
Operating Expenses	80.6	83.3	89.7	80.5	—	79.7	78.0
Selling, General & Administrative Expenses excluding Research & Development Expenses	71.0	74.5	80.9	71.1	—	70.7	70.1
Income before Taxes & Provision for Loan Losses	43.5	46.7	64.6	39.1	—	34.1	48.3
DPS - Common - Gross - Issue - By Payable Date Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
DPS - Common - Gross - Issue - By Ex Date Rs	0.00	0.00	0.00	0.00	—	0.00	0.00
Tax Adjusted Operating Income	40.3	22.4	44.1	27.9	—	27.7	29.7
Operating Expenses excluding Non-Cash Charges - Total	76.5	79.3	85.1	76.0	—	75.7	75.0
Income Available to Common Shares before Depreciation & Amortization	44.0	26.1	48.5	31.7	—	31.3	32.4
Fixed Charges	0.4	0.6	0.2	1.0	—	0.5	0.6
Estimated Tax Rate	0.29×	0.29×	0.29×	0.29×	—	0.29×	0.29×
Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs	0.00	0.00	0.00	0.00	—	0.00	0.00

Every line the company reported, in the original order and wording, without regrouping or signs changed.