Octopus Digital's quarterly profit drops 85% YoY
MG News | May 02, 2025 at 09:32 AM GMT+05:00
May 02, 2025 (MLN): Octopus Digital Limited (PSX: OCTOPUS) reported a profit of Rs18.74 million for the quarter ended March 31, 2025, showing a steep decline of 84.85% compared to Rs123.7m in the same period last year, as per the company’s consolidated statement of profit or loss.
The company’s basic and diluted Earnings per Share (EPS) for Q1 2025 stood at Rs0.13, down sharply from Rs0.84 respectively in Q1 2024.
The earnings drop was primarily driven by a sharp contraction in gross profit, which fell 49.71% to Rs102.85m due to a 26.25% decline in revenues and a 17.62% rise in cost of revenue.
Administrative and selling expenses increased significantly by 34.97% to Rs94.73m, further compressing operating margins. However, other expenses dropped 83.22% to Rs50,000, offering some relief.
A notable development was the jump in other income, which surged over 30 times to Rs21.82m, compared to just Rs0.7m in the same period last year, partially offsetting the impact of higher expenses.
Profit from operations shrank 77.82% to Rs29.89m, while finance costs ballooned to Rs9.22m from just Rs0.08m a year ago, weighing further on the bottom line.
Profit before tax plunged 84.65% to Rs20.67m. After taxation of Rs1.92m, net profit stood at Rs18.74m for the quarter.
| CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE FIRST QUARTER ENDED MARCH 31, 2025 (Rupees in '000) | |||
| Category | Mar-25 | Mar-24 | %Change |
| Revenues | 231,458 | 313,859 | -26.25% |
| Cost of Revenue | (128,611) | (109,349) | 17.62% |
| Gross Profit / (Loss) | 102,846 | 204,511 | -49.71% |
| Administrative and Selling Expenses | (94,729) | (70,185) | 34.97% |
| Other Expenses | (50) | (298) | -83.22% |
| Other Income | 21,818 | 697 | 3030.27% |
| Profit / (Loss) from Operations | 29,886 | 134,725 | -77.82% |
| Finance Costs | (9,219) | (76) | |
| Profit / (Loss) Before Tax | 20,667 | 134,649 | -84.65% |
| Taxation | (1,924) | (10,951) | -82.43% |
| Profit / (Loss) for the Period After Tax | 18,743 | 123,697 | -84.85% |
| Basic Earnings Per Share (Rs.) | 0.13 | 0.84 | -84.52% |
| Diluted Earnings Per Share (Rs.) | 0.13 | 0.83 | -84.34% |
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