For Symmetry Group Ltd (PSX: SYM), FY2025 looked like the sort of year that convinces investors a small-cap technology story is finally graduating into something bigger: stronger topline, higher earnings, and an expanding footprint beyond Pakistan. But the first quarter of FY2026 has landed with a thud, showing just how quickly momentum can fade in project-led digital services.
According to a recent equity research briefing note, Symmetry posted consolidated net sales of Rs767 million for FY2025 (year ended 30 June 2025), up 33% from Rs578 million in FY2024. Profit after tax rose to Rs168 million (up 23% year-on-year), lifting earnings per share to Rs0.59 from Rs0.48.
That is the good news. The less flattering detail sits behind the headline growth: gross margin fell to 54% from 63%, reflecting a sharp rise in cost of sales even as revenue climbed. The company still delivered higher operating profit for the year, but the squeeze on margins is a reminder that scaling a services-heavy business often means hiring ahead of demand, absorbing salary inflation, and taking on more complex work that does not always price as richly as management would like.
Then came FY2026’s opening quarter (ended 30 September 2025), which exposed a more immediate challenge: growth stalled. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
