Mughal Energy Limited (GEM) has released its unaudited condensed interim financial report for the quarter ended September 30, 2026, marking a significant transition as the main turbine of its hybrid power plant commenced commercial operations.
- Revenue for the quarter reached PKR 274.604M, reflecting the initial phase of operations.
- The company reported a net loss after taxation of PKR 15.061M, compared to a loss of PKR 1.864M in the same period last year, resulting in an EPS of PKR -0.08.
- The main turbine achieved its Commercial Operations Date on August 31, 2026, and operated at a 68% plant factor during its first month.
- Additional long-term financing of PKR 250M was secured from Pak Brunei Investment Company Limited to support the hybrid power plant project.
- Trade debts increased as the company began recognizing revenue from electricity sales to its holding company, Mughal Iron & Steel Industries Limited.
- The balance sheet shows total assets of PKR 12.146B and total liabilities of PKR 8.116B, with a notable increase in long-term financing.