Supernet Technologies posts 9.5x increase in profit for 1HFY25
MG News | February 28, 2025 at 04:53 PM GMT+05:00
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 |
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