Supernet Technologies posts 9.5x increase in profit for 1HFY25

By MG News | February 28, 2025 at 04:53 PM GMT+05:00

0:00

February 28, 2025 (MLN): Supernet Technologies Limited (PSX: STL) has reported a profit before tax of Rs29 million for the half-year ended December 31, 2024, marking a significant 850% increase from Rs3m in the same period last year.

This led to a substantial rise in earnings per share (EPS), which jumped to Rs58.58 from Rs6.17.

This sharp rise in profitability was driven by substantial other income, offsetting the company's operating loss.

Despite no reported revenue or cost of services for the period, STL faced administrative expenses of Rs12.5m, up 9.6% from Rs11.4m 2023.

The company also incurred selling expenses amounting to Rs4m.

Consequently, the operating result turned negative, with a loss of Rs12.5m compared to a profit of Rs4m in the previous year.

A key contributor to STL’s strong financial turnaround was a notable increase in other income, which surged to Rs42m from a negative Rs0.50m last year.

Condensed interim statement of profit and loss (un-audited) for the half year ended December 31, 2024 (in Rupees '000)	2024	2023	%Change
Revenue - net	-	37,656
Cost of services	-	(18,217)
Gross Profit	-	19,439
Administrative expenses	(12,504)	(11,410)	9.59%
Selling expenses	-	(4,066)
Operating Profit / (Loss)	(12,504)	3,963
Other income and (expenses)	41,799	(502)
Profit before levies and taxation	29,290	3,460	746.53%
Levies	-	(377)
Profit before taxation	29,290	3,083	850.05%
Earnings per share - basic and diluted	58.58	6.17

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,905.00	107,905.00 107,530.00	-330.00 -0.30%
BRENT CRUDE	66.52	66.63 66.52	-0.22 -0.33%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.86	65.02 64.83	-0.25 -0.38%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%