417 FINANCIAL STATEMENTS | Consolidated Accounts 13. Income taxes (Continued) (c) The reconciliation of estimated income tax expense at tax rate to income tax expense reported in consolidated statement of profit and loss is as follows: Rupees crores Particulars 2026 2025 Profit before tax.................................................................................................................................................................................................................... 25,184.76 19,079.62 Applicable income tax rate................................................................................................................................................................................................ 25.168% 25.168% Expected income tax expense........................................................................................................................................................................................ 6,338.50 4,801.96 Tax effect of adjustments to reconcile expected income tax expense to reported income tax expense: Effect of different tax rates in local and foreign tax jurisdictions........................................................................................................ (56.06) (10.46) Effect of income exempt from tax/non taxable on compliance of conditions............................................................................. (531.91) (390.76) Effect of tax on deemed income................................................................................................................................................................................... 219.28 — Effect of income chargeable at specified tax rates ....................................................................................................................................... (1.80) 25.26 Effect of expenses/provisions that is non-deductible in determining taxable profit................................................................ 394.17 316.07 Unrecognised tax losses of previous year used to reduce current tax expense....................................................................... — (10.81) Effect of unused tax losses and tax offsets for which no deferred tax asset has been recognised.......................... 421.65 369.68 Effect of utilisation of tax losses.................................................................................................................................................................................. (182.48) (72.94) Others............................................................................................................................................................................................................................................... (38.30) (21.55) Income tax expense recognised in consolidated statement of profit and loss................................................................... 6,563.05 5,006.45 (d) Amounts on which deferred tax asset has not been created and related expiry period Deferred tax assets have not been recognised in respect of following items, because it is not probable that future taxable profit will be available against which the Group can use the benefit therefrom. Rupees crores Particulars 2026 2025 Deductible temporary differences (no expiry date)......................................................................................................................................... 853.14 462.13 Unused tax losses (revenue in nature)..................................................................................................................................................................... 6,769.47 6,448.45 Unused tax losses (capital in nature)......................................................................................................................................................................... 3,453.79 2,786.65 Total.................................................................................................................................................................................................................................................. 11,076.40 9,697.23 (i) Unused tax losses — revenue in nature Rupees crores Expiry period 2026 2025 Up to five years......................................................................................................................................................................................................................... 918.51 1,411.56 More than five years.............................................................................................................................................................................................................. 714.16 1,091.13 No expiry date............................................................................................................................................................................................................................ 5,136.80 3,945.76 Total.................................................................................................................................................................................................................................................. 6,769.47 6,448.45
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