Octopus Digital slips into loss in Q2 2024

MG News | August 29, 2024 at 02:46 PM GMT+05:00

0:00

August 29, 2024 (MLN): Octopus Digital Limited (PSX: OCTOPUS) experienced a loss of Rs4.28 million [LPS: Rs0.03] in the second quarter of 2024, compared to a profit of Rs28.64m [EPS: Rs0.18] in the same period last year (SPLY).

Going by the results, the company's sales revenue grew by 42.6% YoY to Rs280m as compared to Rs196.28m in SPLY.

The cost of sales also rose by 60.8% YoY but was greater than proportionate to sales rise, which slashed the gross margin by 45.37% in Q2 2024 compared to 51.55% in Q2 2023.

However, during the period under review, other income shrank 11.97% YoY to stand at Rs24.58m in Q2 2024 as compared to Rs27.93m in SPLY.

Unconsolidated (un-audited) Financial Results for the quarter ended June 30, 2024 (Rupees in '000)
	Jun-24	Jun-23	% Change
Sales	279,905	196,284	42.60%
Cost of sales	-152,907	-95,094	60.80%
Gross Profit/ (loss)	126,998	101,190	25.50%
Administrative Expenses	-123,464	-96,011	28.59%
Other Income	24,586	27,930	-11.97%
Other Operating Expenses	-39,342	-	-
Finance Cost	-1,440	-17	-
Profit/ (loss) before taxation	-12,662	33,092	-
Taxation	10,980	-2,782	-
Net profit/ (loss) for the period	-4,284	28,647	-
Basic earnings/ (loss) per share	-0.03	0.18	-

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,741.35 410.45M	0.52% 876.82
ALLSHR	103,176.20 904.54M	0.44% 451.08
KSE30	51,932.10 160.24M	0.51% 261.68
KMI30	245,585.80 136.41M	0.55% 1354.98
KMIALLSHR	67,531.86 525.58M	0.58% 390.03
BKTi	45,672.13 42.39M	0.35% 160.88
OGTi	34,337.06 26.90M	1.63% 550.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,000.00	90,250.00 87,745.00	-1440.00 -1.59%
BRENT CRUDE	60.63	61.50 60.60	-0.49 -0.80%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	1.15 1.28%
ROTTERDAM COAL MONTHLY	96.50	96.50 96.50	-0.20 -0.21%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.88	57.80 56.86	-0.56 -0.97%
SUGAR #11 WORLD	14.82	15.13 14.80	-0.28 -1.85%