Telecard quarterly profit shrinks 44%

MG News | October 31, 2024 at 09:58 AM GMT+05:00

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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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