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PIAHCLB PIA Holding Company LimitedB

Latest results: FY2025 · Dec 2025

Watch PIAHCLB · free results alerts

Last close · 16 Oct 2026

Rs 14,350.00 -0.01%

Annual · FY2006 – FY2025

PIA Holding Company LimitedB (PIAHCLB) income statement

PIA Holding Company LimitedB reported revenue of Rs 25.7 bn for FY2025 (Jan – Dec 2025), down 89.3% on FY2024. Finance cost was Rs 53.6 bn, down 10.1% on FY2024. The loss attributable to shareholders was Rs 25.5 bn, or Rs -4.88 per share.

PIAHCLB income statement (annual) (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2022 * Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Revenue 25.7 239.7 178.6 88.1 99.2
Operating expenses (8.3) (220.9) (193.9) (106.5) (111.4)
Finance cost (53.6) (59.7) (51.2) (27.2) (29.4)
Profit before tax (38.7) (44.1) (100.6) (54.4) (47.9)
Taxation (5.1) 30.2 3.4 0.9 4.2
Profit after tax (43.8) (13.9) (97.2) (53.5) (43.7)
Profit attributable to shareholders (25.5) (14.6) (97.3) (53.4) (43.6)
Per share
EPS – basic (Rs) Rs (4.88) (2.79) (18.59) (10.20) (8.32)
Dividend per share (Rs) Rs 0.00 0.00 0.00 0.00 0.00
PIAHCLB income statement — year-on-year change (Rs mn)
Rs mn FY2025 Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2022 * Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Revenue -89.3% +34.2% +102.7% -11.2% -39.8%
Operating expenses -96.2% +13.9% +82.0% -4.4% -35.5%
Finance cost -10.1% +16.6% +88.1% -7.3% -11.3%
Profit before tax — — — — —
Taxation — — — — —
Profit after tax — — — — —
Profit attributable to shareholders — — — — —
Per share
EPS – basic (Rs) — — — — —
Dividend per share (Rs) — — — — —

Change against the previous fiscal year; shown when the earlier figure is positive.

PIAHCLB income statement — common size (Rs mn)
Rs mn FY2025 Jan – Dec 2025 FY2024 * Jan – Dec 2024 FY2022 * Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Revenue 100.0% 100.0% 100.0% 100.0% 100.0%
Operating expenses (32.5%) (92.2%) (108.6%) (120.9%) (112.3%)
Finance cost (208.7%) (24.9%) (28.7%) (30.9%) (29.6%)
Profit before tax (150.6%) (18.4%) (56.3%) (61.7%) (48.3%)
Taxation (19.9%) 12.6% 1.9% 1.0% 4.2%
Profit after tax (170.5%) (5.8%) (54.5%) (60.7%) (44.1%)
Profit attributable to shareholders (99.3%) (6.1%) (54.5%) (60.6%) (43.9%)

Each line as a percentage of revenue.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 15 Oct 2026.

All reported line items 149
PIAHCLB income statement — all reported line items (Rs bn)
Rs bn FY2025 Jan – Dec 2025 FY2024 Jan – Dec 2024 FY2022 Jan – Dec 2022 FY2021 Jan – Dec 2021 FY2020 Jan – Dec 2020
Revenue from Goods & Services 25.7 239.7 178.6 88.1 99.2
Sales of Goods & Services - Net - Unclassified 25.7 239.7 178.6 88.1 99.2
Revenue from Business-Related Activities - Other - Total — — — — —
Revenue from Business Activities - Total 25.7 239.7 178.6 88.1 99.2
Cost of Operating Revenue 9.3 187.9 179.3 96.6 98.0
Cost of Revenues - Total 9.3 187.9 179.3 96.6 98.0
Cost of Revenues - Unclassified 9.3 151.2 65.8 44.3 41.5
Selling, General & Administrative Expenses - Total 17.1 33.9 18.3 14.3 15.3
Selling, General & Administrative Expenses - Unclassified — 12.9 — — —
Amortization in Cost of Revenues — 0.0 0.0 0.0 0.0
Depreciation in Cost of Revenues — 14.8 15.2 13.9 15.6
Depreciation in Selling, General & Administrative Expenses — 1.9 — — —
Labor & Related Expenses including Stock-Based Compensation in Cost of Revenues — 20.7 17.7 14.8 18.9
Amortization of Intangibles in Selling, General & Administrative Expenses — 0.1 — — —
Material Expenses — 1.3 0.9 0.8 0.7
Other Operating Expense/(Income) - Net (18.0) (0.9) (3.7) (4.3) (1.9)
Other Operating Income - Total — 1.4 4.7 6.9 11.5
Ground leases/Rental Expenses in Cost of Revenues — 1.3 0.9 0.8 0.7
Cost of Revenues - Other - Total 0.0 — 79.7 22.9 21.2
Gross Profit - Industrials/Property - Total 16.4 51.7 (0.8) (8.5) 1.2
Operating Expenses - Total 8.3 220.9 193.9 106.5 111.4
Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses — 15.6 — — —
Selling, General & Administrative Expenses - Other - Total — 3.3 — — —
Advertising Expense — 3.6 — — —
Rental Expense — 1.3 — — —
Operating Profit before Non-Recurring Income/(Expense) 17.4 18.7 (15.3) (18.4) (12.2)
Financing Income/(Expense) - Net - Total (54.0) (62.4) (76.9) (35.9) (35.8)
Interest Expense - Net of (Interest Income) 53.6 59.7 51.2 27.2 29.4
Other Operating Expense — 0.5 — — —
Interest Expense - Net of Capitalized Interest 53.6 59.8 51.2 27.2 29.4
Operating Provisions - Increase/(Decrease) — — 1.0 2.6 9.5
Provision for Doubtful Accounts & Write-off — (1.6) — — —
Non-Interest Financial Income/(Expense) - Total (0.3) (2.7) (25.7) (8.7) (6.4)
Non-Interest Financial Income/(Expense) - Other - Net — (0.4) (0.5) (1.4) (1.5)
Sale of Tangible & Intangible Fixed Assets - Gain/Loss — 0.0 — — —
Equity Earnings/(Loss) - before Taxes including Non-Recurring — — 0.0 0.0 (0.0)
Other Non-Operating Income/(Expense) - Total (2.1) (1.4) (0.0) — —
Non-Operating Rental Income — 0.2 — — —
Foreign Exchange Gain/(Loss) - Non-Business (0.3) (2.3) (25.2) (7.3) (4.9)
Normalized Pre-tax Profit (38.7) (45.0) (92.3) (54.4) (47.9)
Non-Recurring Income/Expense - Total — 1.0 (8.3) — —
Impairment - Tangible & Intangible Fixed Assets — — — — —
Impairment - Fixed Assets — — — — —
Interest Income - Non-Bank — 0.1 — — —
Sale of Investments Held for Sale, Maturity & Trading - Gain/(Loss) — — — — —
Fair Value Adjustments - Investment Property — 1.0 (8.3) — —
Non-Recurring Income/(Expense) - Other - Total — — — — —
Income before Taxes (38.7) (44.1) (100.6) (54.4) (47.9)
Income Taxes 5.1 (30.2) (3.4) (0.9) (4.2)
Income Taxes for the Year - Current 5.0 4.3 1.5 (0.9) (4.2)
Income Taxes - Deferred 0.1 (34.5) (4.8) — —
Income Taxes - Other (by Type) — — — — —
Derivatives - Hedging - Gain/(Loss) — — — — —
Net Income after Tax (43.8) (13.9) (97.2) (53.5) (43.7)
After-Tax Adjustments - Other - Income/(Expense) - Total — — — — —
Income before Discontinued Operations & Extraordinary Items (43.8) (13.9) (97.2) (53.5) (43.7)
Net Income before Minority Interest (25.4) (14.4) (97.2) (53.5) (43.7)
Minority Interest 0.1 0.2 0.1 (0.1) (0.2)
Net Income after Minority Interest (25.5) (14.6) (97.3) (53.4) (43.6)
Income Available to Common Shares (25.5) (14.6) (97.3) (53.4) (43.6)
Extraordinary Activities - after Tax - Gain/(Loss) 18.4 (0.5) — — —
Discontinued Operations - Net of Taxes - Total - Income/(Expense) 18.4 (0.5) — — —
Other Comprehensive Income - Starting Line (25.4) (14.4) (97.2) (53.5) (43.7)
Discontinued Operations - Net - Income/(Expense) 18.4 (0.5) — — —
Other Comprehensive Income - Foreign Currency (0.7) (0.6) 4.0 1.1 1.4
Other Comprehensive Income - Unrealized Investment Gain/(Loss) 0.1 (0.0) 0.0 0.1 (0.0)
Other Comprehensive Income - Hedging Gain/(Loss) (0.0) 0.0 6.9 (0.1) 0.0
Other Comprehensive Income - Revaluation of Tangible & Intangible Assets 9.9 6.2 (0.4) 3.4 (11.5)
Other Comprehensive Income - Pension Related (1.9) 3.1 (2.5) 1.3 0.8
Other Comprehensive Income - Net of Tax - Total 7.5 8.7 8.1 5.8 (9.3)
Comprehensive Income before Minority Interest - Total (17.9) (5.8) (89.1) (47.7) (53.1)
Comprehensive Income - Attributable to Minority Interest - Total 1.4 (0.1) 1.2 0.5 (0.3)
Comprehensive Income - Attributable to Parent Company Equity Holders - Total (19.4) (10.0) (90.3) (48.1) (52.8)
DPS - Common - Gross - Issue - By Period End Date Rs 0.00 0.00 0.00 0.00 0.00
Net Income - Basic - including Extraordinary Items Applicable to Common - Total (25.5) (14.6) (97.3) (53.4) (43.6)
Income available to Common excluding Extraordinary Items (44.0) (14.1) (97.3) (53.4) (43.6)
Shares used to calculate Basic EPS - Total mn 5,235.3 5,235.3 5,235.3 5,235.3 5,235.3
EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs (4.88) (2.79) (18.59) (10.20) (8.32)
EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs (8.40) (2.69) (18.59) (10.20) (8.32)
EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs (8.40) (2.88) (17.00) (10.20) (8.32)
Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific (25.5) (14.6) (97.3) (53.4) (43.6)
Earnings Allocation Factor - Basic - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Basic EPS - Issue Specific mn 5,235.3 5,235.3 5,235.3 5,235.3 5,235.3
EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs (4.88) (2.79) (18.59) (10.20) (8.32)
EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs (8.40) (2.69) (18.59) (10.20) (8.32)
EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs (8.40) (2.88) (17.00) (10.20) (8.32)
EPS - Basic from Discontinued Operations & Extraordinary Items Rs 3.52 (0.10) 0.00 0.00 0.00
Comprehensive Earnings Per Share - Basic - Issue Specific Rs (3.71) (1.90) (17.26) (9.19) (10.09)
Dilution Adjustment — — — — —
Net Income - Diluted - including Extraordinary Items Applicable to Common - Total (25.5) (14.6) (97.3) (53.4) (43.6)
Diluted Income available to Common excluding Extraordinary Items (44.0) (14.1) (97.3) (53.4) (43.6)
Shares used to calculate Diluted EPS - Total mn 5,235.3 5,235.3 5,235.3 5,235.3 5,235.3
EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs (4.88) (2.79) (18.59) (10.20) (8.32)
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs (8.40) (2.69) (18.59) (10.20) (8.32)
EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs (8.40) (2.88) (17.00) (10.20) (8.32)
Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific (25.5) (14.6) (97.3) (53.4) (43.6)
Earnings Allocation Factor - Diluted - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Diluted EPS - Issue Specific mn 5,235.3 5,235.3 5,235.3 5,235.3 5,235.3
EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs (4.88) (2.79) (18.59) (10.20) (8.32)
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs (8.40) (2.69) (18.59) (10.20) (8.32)
EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs (8.40) (2.88) (17.00) (10.20) (8.32)
EPS - Diluted from Discontinued Operations & Extraordinary Items Rs 3.52 (0.10) 0.00 0.00 0.00
Comprehensive Earnings Per Share - Diluted - Issue Specific Rs (3.71) (1.90) (17.26) (9.19) (10.09)
DPS - Common - Gross - Issue - By Announcement Date Rs 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
Earnings before Interest & Taxes (EBIT) 17.4 18.7 (15.3) (18.4) (12.2)
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) 22.2 35.5 0.0 (4.4) 5.0
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) and Operating Lease Payments — 38.1 0.9 (3.6) 5.8
Depreciation & Amortization - Supplemental — 16.8 15.2 13.9 15.7
Depreciation Expense - Total - Supplemental — 16.7 15.2 13.9 15.6
Depreciation - Financial Lease Right-of-Use Assets - Supplemental — 7.0 — — —
Amortization - Total - Supplemental — 0.1 0.0 0.0 0.0
Goodwill Amortization - Supplemental — — — — —
Intangible Amortization - Other - Supplemental — 0.1 0.0 0.0 0.0
Amortization of Computer Software - Supplemental — 0.1 0.0 0.0 0.0
Depreciation, Depletion & Amortization - Total 4.9 16.8 15.3 14.0 17.2
Depreciation - Total 4.8 16.7 15.2 13.9 17.1
Amortization of Intangible Assets including Goodwill - Total — — — — —
Amortization of Goodwill - Total — — — — —
Amortization of Intangible Assets excluding Goodwill - Total 0.1 0.1 0.1 0.2 0.1
Labor & Related Expenses - Total — 36.3 17.7 14.8 18.9
Labor & Related Expenses - Supplemental — 36.3 17.7 14.8 18.9
Auditor Fees — 0.0 — — —
Audit-Related Fees — 0.0 — — —
Tax Fees — — — — —
Fees - Other — 0.0 — — —
Normalized after Tax Profit (43.8) (14.9) (88.9) (53.5) (43.7)
Normalized Net Income from Continuing Operations (43.8) (14.9) (88.9) (53.5) (43.7)
Normalized Net Income - Bottom Line (44.0) (15.1) (89.0) (53.4) (43.6)
Earnings before Interest & Taxes (EBIT) - Normalized 14.9 14.7 (41.1) (27.1) (18.6)
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized 19.8 31.4 (25.7) (13.1) (1.4)
Depreciation of Financial Lease Right-of-Use Assets — 7.0 — — —
Interest Expense on Financial Lease Liabilities - Supplemental — 1.6 1.2 0.9 1.4
Derivatives - Hedging - Gain/(Loss) - Total - Supplemental — — — — —
Rental/Operating Lease Expense — 2.6 0.9 0.8 0.7
Advertising Expenses - Supplemental — 3.6 — — —
Interest Expense 53.6 59.8 51.2 27.2 29.4
Operating Expenses 8.3 220.9 193.9 106.5 111.4
Selling, General & Administrative Expenses excluding Research & Development Expenses 17.1 33.9 18.3 14.3 15.3
Income before Taxes & Provision for Loan Losses (38.7) (44.1) (100.6) (54.4) (47.9)
Cost of Revenue including Operation & Maintenance (Utility) - Total 9.3 187.9 179.3 96.6 98.0
Cost of Revenues excluding Depreciation 9.3 173.2 164.1 82.7 82.3
DPS - Common - Gross - Issue - By Payable Date Rs 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
Operating Expenses excluding Non-Cash Charges - Total 3.5 204.1 178.5 92.5 94.2
Income Available to Common Shares before Depreciation & Amortization (20.6) 2.1 (82.0) (39.3) (26.3)
Fixed Charges 53.6 59.8 51.2 27.2 29.4
Estimated Tax Rate 0.29× 0.29× 0.29× 0.29× 0.35×
Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs 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.