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

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.

Amount in thousand except for EPS

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