Lalpir Power reports significant YoY profit decline

MG News | April 03, 2025 at 10:32 AM GMT+05:00

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April 03, 2025 (MLN): Lalpir Power Limited (PSX: LPL) reported its earnings for the year ended December 31, 2024, wherein the profit after tax dropped to Rs464.79 million [EPS: Rs 1.22] compared to Rs4.58 billion [EPS: Rs 12.05] in the same period last year (SPLY), reflecting an 89.85% YoY decline.

The company’s revenue from contracts with customers stood at Rs14.24bn, reflecting a 26.87% decline compared to Rs19.47bn last year.

Despite a 22.92% decrease in cost of sales to Rs10.69bn, gross profit contracted by 36.65%, settling at Rs3.55bn.

On the expense front, administrative expenses increased by 6.64% YoY to Rs235.85m, while other expenses surged 1,629.90% YoY to Rs1.36bn, significantly impacting profitability.

However, other income rose 558.96% YoY to Rs186.12m.

The company’s profit from operations declined by 68.39% YoY, standing at Rs1.7bn, as finance costs soared 48.93% YoY to Rs1.19bn, further eroding profits.

Additionally, the company recorded a levy of Rs22.08m and taxation of Rs20.46m, bringing total comprehensive income for the year down 88.82% YoY to Rs511.67m from Rs4.58bn in 2023.

Financial Results For The Period Ended December 31, 2024 (Rupees in thousand)
Description	Dec-24	Dec-23	%Change
Revenue from contract with customers	14,239,415	19,471,572	-26.87%
Cost of Sales	(10,691,409)	(13,870,716)	-22.92%
Gross Profit	3,548,006	5,600,856	-36.65%
Expenses
Plant Maintenance and Preservation Costs	(435,643)	-
Administrative Expenses	(235,854)	(221,160)	6.64%
Other Expenses	(1,361,469)	(78,702)	1629.90%
Other Income	186,116	28,244	558.96%
Profit from Operations	1,700,376	5,379,238	-68.39%
Finance Cost	(1,193,647)	(801,471)	48.93%
Profit Before Taxation and Levy	507,329	4,577,767	-88.92%
Levy	(22,084)	-
Profit Before Taxation	485,245	4,577,767	-89.40%
Taxation	(20,455)	-
Profit After Taxation	464,790	4,577,767	-89.85%
Other Comprehensive Income
Items that will not be reclassified to profit or loss
Remeasurements of Defined Benefit Plan	46,875	(1,372)
Items that may be reclassified subsequently to profit or loss	-	-
Total Comprehensive Income for the Year	511,665	4,576,395	-88.82%
Earnings per Share - Basic and Diluted (Rupees)	1.22	12.05	-89.88%

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