Nishat Power Posts Rs2.48 Billion Profit for 2026 After Rs746.8 Million Loss

Nishat Power Limited reported a net profit of Rs2.482 billion for 2026, reversing a net loss of Rs746.782 million in 2025 that followed a one-off adjustment under a revised power purchase agreement, Business Recorder reported. The company operates a 200MW fuel-fired power station in Jamber Kalan, District Kasur, Punjab, and is a subsidiary of Nishat Mills Limited.

Nishat Power's 2026 Profit Recovery

The 2025 loss of Rs746.782 million, or loss per share of Rs2.11, came after Nishat Power agreed under the amendment agreement to waive delayed payment mark-up invoices and accrued mark-up on payments made by the power purchaser up to October 31, 2024, and to share prior years' earnings on fuel and O&M up to June 30, 2023. Excluding that one-off adjustment, earnings per share would have been Rs8.77.

Net sales rose 56.11 percent to Rs11.017 billion in 2026 as production climbed 122.89 percent to 193,166 MWH, lifting annual capacity utilization to 11.29 percent. The company said the increase reflected disruptions in the global energy supply chain that impeded RLNG supplies to Pakistan, leaving RFO-based plants to support the national grid.

Cost of sales surged 119.10 percent on higher fuel prices, cutting gross profit 48.15 percent and gross margin to 12.51 percent. A share of profit of Rs1.303 billion from NexGen bolstered the result, and net margin came in at 22.53 percent with earnings per share of Rs7.01.

In the first quarter of FY27, net sales rose 393.16 percent year-on-year to Rs8.246 billion on greater reliance on RFO plants amid geopolitical tensions that restricted RLNG supply. Net profit fell 7.35 percent to Rs541.376 million, with earnings per share of Rs1.53 against Rs1.65 a year earlier, as finance cost rose 737.61 percent after receivables from the power purchaser grew from Rs6.541 billion in June 2026 to Rs9.607 billion in September 2026.

Nishat Power's FESCO Consortium Role

Nishat Power is participating in a consortium led by Pakgen Limited for the proposed privatization of Faisalabad Electric Supply Company. The company said it expects capacity utilization to rise during the current fiscal year because restricted RLNG supply has increased reliance on RFO plants. Nishat Power also said lower capacity payments under the revised power purchase agreement, surging circular debt, rising external borrowings and higher fuel costs may weigh on profitability and margins.