The General Manager
Pakistan Stock Exchange Limited Stock Exchange BuildingStock Exchange Road Karachi
CS/PSX/BM/2QTR-FS-25/26
I I May, 2026
FINANCIAL RESULTS
FOR THE SECOND QUARTER ENDED JUNE 30, 2025
Dear Sir,
We have to inform you that the Board of Directors of PIAHCL in their Meeting held on Friday, May 08, 2026 at 11 :00 A.M. at Islamabad, recommended the following:
a. CASH DIVIDEND
Nil
b. BONUS SHARES
Nil
c. RIGHT SHARES
Nil
d. ANY OTHER ENTITLEMENT / CORPORATE ACTION
Nil
e. ANY OTHER PRICE-SENSITIVE
INFORMATION
The Financial Results of the Company are attached
The Quarterly Report of the Company for the period ended June 30, 2025 wiI1 be transmifled through PUCARS separately.
Rao Muhammad Imran Company Secretary
Encl: As stated above
Registered Address: 4" Floor, PlA Building, 49-AKM Fazal-c-Haq Road, Blue Area, Islamabad
Liaison Office Add ress: Companx Secretary. 1st Floor. Executive borndor. PIA head Office, Karachi-A irport
PIA HOLDING COMPANY LIMITED
UNCONSOLIDATED CONDEMNED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
30 June 31 December
2025 2024
(Unaudited) (Audited) Note (Rupees in '000) --•--
AS9ETS | |||||
NON-CURRENT ASSETS Property and equipment - land | 5,839 | 5,839 | |||
Investment property | 10,600,975 | 10,600,975 | |||
Long-term investments | 4 | 4,560,346 | 56,905,466 | ||
CURRENT ASSETS | 15,167,180 | 67,512,280 | |||
Trade Debt• Loan to PIA Investment Limited | 5 | 3,952,554 | 3,879,803 | ||
Other receivables | 6 | 4,275,546 | 9,286,060 | ||
Bank balances | 7 | 9,599,905 | 2,239,999 | ||
17,828,005 | 15,4O5,861 | ||||
Assets held for sale | 52,345,120 | 524,629 | |||
TOTAL AGSE7S | 5 340 2 5 | 83,442,772 | |||
EQUITY AND LIABILITIES | |||||
_ | SHARE CAPITAL AND RESERVES Share capital | $2,345,120 | 52,345,120 | ||
Reserves | (721,213,238) | (698,988,529) | |||
(668,868,118) | (646,643,409) | ||||
NON CURRENT LIABILITIES Long-term financing | 406,318,389 | 374,516,785 | |||
Deferred liabilities | 32,730,328 | 31,045,356 | |||
439,048,717 | 406,462,141 | ||||
CURRENT LIABILITIES | |||||
Trade and other payables | 10 | 195,222,245 | 194,817,420 | ||
Advance from subsidiaries | 11 | 11,396,582 | 11,187,297 | ||
Taxation - net | 42.801 | 24,242 | |||
Accrued mark-up | J2 | 105,432,g71 | 111,459,188 | ||
Current portion of long-term financing | 3,065,087 | 3,132,440 | |||
315,159,686 | 320,620,587 | ||||
Liabilities related to assets held for sale | 3,003,452 | ||||
TOTAL EQUITY AND LIABILITIES | 0 2 | 3 4 2 72 | |||
CONTINGENCIES | 13 | ||||
The annexed notes from 1 to 2O Ion n an integroI port of these uneye olidated condeneed intarim financial statements. ^w
Chief Executive Officer " Director hl f Fin c at O e
Plc noLolNc couPAttY uulr6o
UNCONSOLTDATED CONDEN8GD TN 'ERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED)
FOR THE 8IX MONTHS PERIOD ENDED 80 JUNE 9025
For the period from 01 JanuAyt25 Io30June
For the perlod For the period For the penod
from 01 May from 01 April carn o1 Aprii
2024 to 30 June 2028 to 30 2024 to 30
2024 June 2028 June 2024
General and adminlBtrative exgensea
Other inoome Finance coats
Loee from continued operaaons
main rom disconflnued operations
N e
14
8.2.2
-• (Rupees In '000) -•-
(3,077,796) (12,687,740)
d,831,637
(883,787)
(3,077,796)
(4,045.825)Loe• t›afore taxation TsrsDon
(21.501,631)
15
(+,045,825)
(4,045 825)
TB 379.382)
(4,045,825)
(4,045,825)
Loss per size -baeic and diluted
Lo#ecddbutsbl$m:
A'saes o/dIna/y shares ofRs. 1a/- eacri
_f*.**)
-(Rupaee) -----
(0.77)
(077)
'B' Uaae ordinary ahares of Ra. 5/- eaoh
(2.08t
(0.39)
(0.80)(0.39)
The annexed notes from 1 to 20 form an Integral part of these unconsolidated condensed interim financial statements.
Chief Execuflve Officer Chlef Financial Officer
PIA HOLDING COMPANY LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCQME (UNAUDITED)
FO9 THE SI1 MONTHS PERTQD ENDED 30 JUNE 2025
For the period | For the period | For the period | For the period | |
from 04 Jenuazy | from 01 May | from 04 Aprff | fram OJ April | |
2025 to 30 June | 2024 to 30 | 2025 to TO June | 2024 to 30 June | |
202s | June 2024 | 2025 | 2024 |
Netlosgfortñepenod
Items that will not be reclassified subsequently to statement of profit or loss
gain from discontinued operations benefit obligations - net of tax
(z1,7so,1roj ‹<,o<>
(8,3 '8 382)
(4,045,825)
Total comprehensive lose for the period
(22,224,7091 (4,045 825)
(4,045,825)
The annexed notes from 1 to 20 form an integral part of fhese unconsolidated condensed interim financial statements.
Chief Executive OWicet
Chief Financial Officer •PIA HOLDING COMPANY LIMITED
UNCONSOLIDAYED COblDENSED INTERIM STATEMENT OF CHANGES in Eouin‹ux UDITED)
FOR THE SIX MONTHS PERIOD ENDED 30 JUNE 202$
Reserves
Remeesurement
Share eapitel
Demarger Accumulated gain on employee Total
reserve lose benefit reserves
obligations
Total equity
--•--------------•--•-----------•••------------ (Rupees in 000) -------------------- ----------•-------------
Balance aa at 01 May 2034 | |||||||||||
Ordinary shares under the Scheme | 52,345, 120 | - | 52,345,120 | ||||||||
gain from discantinued operations | (653, S28,337) | (653,528,337) | (653,528,337) | ||||||||
Total comprehensive loss for the period | (4,045,825) | (4,045,825) | (4,045,825) | ||||||||
52 340, 4 20 | (653,528,337) | (4, 045, 25) | - | T657 574 162) | (605 2'29 042) | ||||||
Balance as at 01 January 2025 | 2,075,048 | {698,988,520) | (646,643,409) | ||||||||
Total comprehensive loss for the period | (2t,?'60,15O) | (464,669) | {22,224,7Og) | (22,224,709) | |||||||
Belance ae at 30 June 80X6 | 52,345.130 | {653,526,337) | I69,295,390 I | 1,610,484 | (?'21,213,238) | (668,868,118) | |||||
The annexed notes from 1 to 20 form an inteeral part of these unconsolidated condensed interim financial statements. < I '' "
Chiaf Executive OGcer Chief Finencial Officer
PIA HOLDING COMPANY LIMITEDUNCONSOLIDATED CONDENSED INTERIM 3TAIEMENT OF CASH FLQWS (UNAUDI7ED)
IQR THE SIX MONTHS PERIOD ENDED 30 JUNE 2025
For the period from OF January 2025 to 30 June
2025
For the period from 01 May 2024
to 30 June 2024
CASH FLOWS FROI OPERATING ACTIVITIES
Note ------- (Rupees In '000) ••
Net toes for the period
Adjustments for:
(21,551,831)(4,045,825)
Depreciation Finance costs | 14 | 24,957,959 | 145,883 3,077,7P8 | |
Loss from discontinued operations | 8.2.2 | (4,667.208) | ||
Provision for retirement benefits | 1,907,612 | |||
Liabilities written off -net Exchange loss - net | (543,782) 466,814 | |||
working capltaT changes: | 22,12t ,385 | 3,223,779 | ||
Other receivables | 5,Ot0,514 | (15,758) | ||
Trade and other payables | 423,313 | 835,787 | ||
5,433,828 | 820,039 | |||
Finance costs paid | (30,445,079) | |||
Net cash used in operating activities | (24,441,699) | (2,007) | ||
CASH FLOWS FROM FINANCING ACTIVITIES Long term financing | 31,801,605 | |||
Increase in cash and cash equivalents during the perfod | 7,389,906 | (2,007) | ||
Cash and cash equivalents at the beginning of the period | 2,239,999 | 41,470 | ||
Cash and cash equivalents at the end of tne period | 39,463 | |||
The annexed notes from 1 to 20 form an integral part of these unconsolidated condensed interim financia] statements. @§
Chief FinanCial Office
. , .' ,
Chief Executive Officer
CONDENSED INT TRIM CONSOLIDATED STATEMENT OG FINANCIAL POSITION
is oz Junz ao, zoos
ASSETS
NON-CURRENT ASSETS
Property. planl and equip/hent Investment property
Note ---- {Rupeee to '000) -•---
309.304,918
3,Z71,453
Long-term investmenls
Receivable in respect of Centre Hotel Deñvatives
Long-lerm deposits and prepayments
S'tores and spares Trede debts
Other receivables
pssels neid for saie
zoroc assess
8QUJTY AND LIABILfTTEO
SHARE CAPITAL AND RESERVES
Authorized ehare capital
Is*ued, subscribed and paid-+jp share capital
Surplus on revaluation of propeny, plant and equipment - nel
Foreig n translation reserve
Attribula ble to we Holding Company's shereidol dere
N0N•CURRENT LiABILIDIEC
Long-term financing Lease liabilities .
Long-Term advances and deposits Deferred texat!on- net
Deferred liabilities
0URA€NT L iABlLlTl0S
Trade and other payables
Unclximed dividend - preference shares
CurrehI maturities ol non current 1tabi lttTes
80,4eg 343.o76.1*0
329,968,440 fiS,634 30,76g,444 |
444,or8.ss4
2,104.225
S2, S98
4,304,040 40,453,826 13,QS2,340 16,351 527 |
6,807,309 331,371,827
M, R5,674
524,629
396 202,131
52.345,120
(778.777.557)
141,976,251
15.173.220
{569.282,066)
398, 4S0, 045 | |
'T1,142,908 | 14.426,525 |
118,186 | |
B3,40G,329 | 63,649,062 |
5,999,176 (£63,283,7g0)
481,979, 011
I iaIai1›lies reJateo to asccto held ror Palo TOTAL EQUITY ANO LtABtLITIES
CONTINGENCJES AND COMMITMENTS
lttea nrtered toies from 7 Jo 13 for e0 inte9ral parl of tbese corsolida teO linanci$J stalemenls. -'
Chief Thecwhye Officer
3,003 #52
cnieT Financla f Omcer
"
413,827,0W 306.282 3J
PIA hOLDT6G COMPA 8 LIMITED
CONDENS ED INTERIM CONSOLIDATED 5TACEMENT OF PROFJT OR LOSS
FOR six MOnTHS ENDED JUNE 30, 202d
Revenue - net
Alreran ruei Oihers
Note (Rupees in '000)
Run.A vai+•aj ‹Un-Audited)
125.726,008
(40,460,944)
(61,0S2.488)
(101,559,412)
2e,419,8W
24, 1W,426
(4,y17.891)
{9,906,821)
2,N6,163 1.554,4 I2
{13,786,448J
Dslribulion costs
A dmInt stratTv e e¥penses
Other p tp lsions and edjus tmenT-s nel
Olher income net
Exchange ions - net
Finance cosIs
Loss rrom contJnued oper•I iens
g•t n from air countinued operaTi ona
T1.090,471)
18,4S8,715
(5,510,16g)
(5,513,168)
(5,543.188)
(10 196,2S8) (7 175 327)
Equity holders ol me t-lolling Company
I10,238.436)
(7.141,368)
non-controii.ng interest
'A' c tass Ord!nary share* of Rs* each
'8' class Ordinary shares of Rs. 5 each
The annexed notes horn 4 to 13 fom an integral part Of lljese consolidaled financial slalemenls.
43,18t {38,359)
•--- {Rupees in '000) -------
(1 36)
{a.ee) {o.sej
hue exe u e Officer
PIA HOLDING COMPANY LIMITED
cONDeNS€O INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR slX Mo THs ENDED JUNE 30, 2025
For The Period For The Period
01 January 2025 01 January 2024
To 30 June 2025 To 30 June z024
Loss for the year
older comprehensive Income
|40,496,255) (7,175,327)
hems Ihal will be reclassified su6*eguenf/y to
con3o/idafed statement of profit or loss
Loss on re-measurement of derivative - net of tax
Exchange differences on translation of foreign operations
Items that will not ba reclassified subsequently to consoliâaled statement of profi or loss
Remeasurement of post retirement defined benefits obligations - net of tax
Revaluation reserve realized - net of tax
Surplus on revaluation of property, plant and equipment - net of tax
Related deferred tax
(2,764) 7,23z,606(1, '57, '61 | |
(901,162 | (23,947) |
9,710,541 | (879,077) |
(2,427,635 |
(637,64a)
4,623,983 | (903.024) |
Total other comprehensive income for the year | 11,853.825 (1,540,664) |
Total comprehonsive loss for the year | 1,657,570 (8,715,891) |
Anributable to: | |
Equity holders of the Holding Company | (6,608,324) |
Non-controlling interest | 958,608 (107,567) |
1,657,570 (8,715,891) | |
The annexed notes from 1 to 13 form an integral part of these consolidated financial statements |
recto
Chief Flnancial O
Chief Gzecutive Officer
PIA HOLDING COMPANY LIMITED
CONDENSED INTERIM CONSOLIDATED STATEM GNT OF CASH FLOWS OR S MONTHS E DE UNE 25
For The Period For The Period
01 January 2025 01 January 2024
(I,192,524) | (184,055) |
(e,2o3) | |
287,049 | (2,103,908) |
(128,297) | 3,147,8B6 |
s,3sy | 1,526,993 |
To 30 June 2025 To 30 June 2024
CASH FLOW9 FROM OPERATING ACTIVITJES | Note | {Rupeea Tn '900 | |
Cash generated from operations | 8 | 18,285,696 | 11,797,611 |
Profit on bank deposits received | 190,468 | 48,504 | |
Finance costs paid | (33,961,351) | (3,550,751) | |
Taxes paid | (511,9 1) | (31,837) | |
Staff retirement benefits paid | (4ez,834) | (1,336,366) | |
Long-term deposits and prepayments - net | (2,187,67B) | (700,578) | |
Net cash generated from operating activities | (18,667,963) | 6,227,583 | |
cASH FLows FRoM INVESTING ACTIVITIES | |||
Purchase of property, plant and equipment | |||
Purchase of Intangibles | |||
Marketable Securities (MFSA) | |||
Restricted cash | |||
Proceeds from Sale of Property, plant and equipment | |||
Net cash used in investing activities | (1,036,615) | 2,386,917 | |
CASH P-LOWS FROM FINANCING ACTIVITIES | |||
Long-Term Financing Net | |||
Proceeds from short term loan | |||
Repayments of lease liabilities | |||
Net cash used in financlng actlvities | 27,4d4,932 | (7,713,634) | |
Increase / (decrease) in cash and caah equlvalents | 7,740.354 | 900,866 | |
Cash and cash equivalents al beginning of the year | 16,35O,199 | 7,932,285 | |
Effects of exchange rate changes on cash and cash equivalents | (176,808) | ||
Casn and cash equivalents at end of the year | 24,049,015 | ||
Cesh and cash equivalents | |||
Cash and bank balances | 25,234,850 | 8,656,345 |
Chief Financial 0@Fdr
(10,692,236 | |
7,000,000 | |
(4,392,835) | (4,021,398) |
The annexed notes from 1 to 13 form an integral part of these consolidated financial statements.
Chlef Executive Officer
i66,s‹s
iaa,sva.ose tsaz 0as,zoei
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