Telecard quarterly profit shrinks 44%
MG News | October 31, 2024 at 09:58 AM GMT+05:00
October 31, 2024 (MLN): Telecard Limited (PSX: TELE) posted a net profit of Rs92.92 million [EPS: Rs0.15] during the quarter ending September 2024, down 44.3% from Rs166.79m [EPS: Rs0.4] earned in the same period last year (SPLY).
The company's revenue rose 4.8% to Rs2.21bn as compared to Rs2.11bn in SPLY.
However, the cost of sales jumped 9.8%, which worsened the gross profit by 7.5% to Rs558.6m in Q1 FY25.
The gross margins fell to 25.3% as compared to 28.6% in SPLY.
During the period under review, other income increased to stand at Rs4.58m in Q1 FY25 as compared to Rs29.57m in SPLY.
Its administrative expenses rose 31.3% from a year ago to Rs376.6m.
The company’s finance cost fell by 44.1% and stood at Rs31.03m as compared to Rs55.55m in SPLY.
On the tax front, the company paid a lower tax worth Rs58.27m against an expense paid worth Rs65.23m in the corresponding period of last year, a decrease of 10.7%.
This translates to an effective tax rate of 38.5% as compared to 28.1% in SPLY.
| Consolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Sep 24 | Sep 23 | % Change | |
| Sales | 2,210,946 | 2,108,850 | 4.84% |
| Cost of sales | (1,652,344) | (1,504,961) | 9.79% |
| Gross Profit/ (loss) | 558,602 | 603,889 | -7.50% |
| Administrative Expenses | (376,597) | (286,752) | 31.33% |
| Levy | (4,354) | - | - |
| Other Income | 4,576 | (29,567) | - |
| Finance Cost | (31,030) | (55,549) | -44.14% |
| Profit/ (loss) before taxation | 151,197 | 232,021 | -34.83% |
| Taxation | (58,274) | (65,228) | -10.66% |
| Net profit/ (loss) for the period | 92,923 | 166,793 | -44.29% |
| Basic earnings/ (loss) per share | 0.15 | 0.40 | - |
Amount in thousand except for EPS
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