Telecard Limited reports 78.21% earnings surge, profit reaches Rs365.8m in 1HFY24

MG News | February 28, 2024 at 10:31 AM GMT+05:00

0:00

February 28, 2024 (MLN): Telecard Limited (PSX: TELE) has recorded an earning surge of 78.21% YoY, as its profit after tax clocked in at Rs365.81 million [EPS: Rs0.97], compared to a profit of Rs205.28m [EPS: Rs0.53] incurred in the same period last year (SPLY).

The main factor behind this increase is a revenue surge of approximately 2.33 times, reaching Rs5.27bn compared to Rs2.26bn in 1HFY23.

The direct costs also expanded 2.69x YoY but as the growth in sales was of a greater proportion, the gross profit improved by 68.73% YoY to Rs1.36bn in 1HFY24.

On the expense side, TELE's administrative and distribution expenses stood at Rs682.18m during the review period, up by 32.16% YoY.

The gains were further capped as the company's other income dropped 63.58% YoY to Rs8.17m in 1HFY24 as compared to Rs22.43m in SPLY.

The company’s finance cost inched down 0.11% YoY and stood at Rs79.13m as compared to Rs79.21m in SPLY.

On the tax front, the company paid a higher tax worth Rs154.96m against the Rs29.63m paid in the corresponding period of last year, depicting a massive rise of 5.33x YoY.

Consolidated Financial Results for half year ended December 31, 2023 (Rupees in '000)
	Dec 23	Dec 22	% Change
Sales	5,266,228	2,256,325	133.40%
Direct costs	(3,903,114)	(1,448,468)	169.46%
Gross Profit	1,363,114	807,857	68.73%
Administrative and distribution expenses	(682,184)	(516,163)	32.16%
Exchange loss	(89,201)	0	-
Other Income	8,168	22,425	-63.58%
Finance Cost	(79,126)	(79,210)	-0.11%
Profit before taxation	520,771	234,909	121.69%
Taxation	(154,957)	(29,634)	422.90%
Net profit for the period	365,814	205,275	78.21%
Basic earnings/ (loss) per share	0.97	0.53	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	151,707.52 244.73M	-0.79% -1200.45
ALLSHR	90,950.95 421.06M	-0.91% -834.89
KSE30	45,918.57 92.97M	-0.83% -386.29
KMI30	220,125.22 87.98M	-0.85% -1889.21
KMIALLSHR	59,363.52 256.09M	-1.02% -613.27
BKTi	41,297.63 25.33M	-0.60% -248.70
OGTi	31,189.41 18.57M	-2.53% -809.48

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,180.00	69,315.00 65,710.00	-2590.00 -3.77%
BRENT CRUDE	114.57	114.88 105.09	6.56 6.07%
RICHARDS BAY COAL MONTHLY	111.15	111.15 111.15	0.35 0.32%
ROTTERDAM COAL MONTHLY	122.70	125.00 122.70	-0.15 -0.12%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	101.18	101.24 92.08	6.70 7.09%
SUGAR #11 WORLD	15.75	15.93 15.66	-0.12 -0.76%