Telecard sees 50% profit decline in half-year results

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MG News | March 04, 2025 at 12:56 PM GMT+05:00

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March 04, 2025 (MLN): Telecard Limited (PSX: TELE) posted a net profit of Rs181.09 million [EPS: Rs0.35] for the half-year ended December 31, 2024, reflecting a 50.5% decline from Rs365.81m [EPS: Rs0.97] in the same period last year (SPLY).

The company’s revenue grew 2.72% to Rs5.41 billion, compared to Rs5.27bn in SPLY.

However, direct costs increased by 9.04%, leading to a 15.4% drop in gross profit to Rs1.15bn.

Administrative and distribution costs surged 9.73% to Rs748.56m, while exchange losses were significantly reduced to Rs0.33m from Rs89.2m.

Other income and expenses saw a sharp decline, posting a net expense of Rs16.52m compared to an income of Rs8.17m in SPLY.

As a result, the company’s operating profit fell 35.35% to Rs387.85m.

Finance costs decreased 25.85% to Rs58.67m.

Profit before taxation and levy stood at Rs329.17m, down 36.79%, while a newly imposed levy of Rs54.74m further lowered pre-tax profits to Rs274.44m, marking a 47.3% decline.

Tax expenses dropped 39.76% to Rs93.34m, bringing the company's effective tax rate down.

Profit attributable to owners of the holding group declined by 63.65% to Rs118.99m, while non-controlling interests rose 61.5% to Rs62.1m.

Consolidated (un-audited) Financial Results For The Half Year Ended Decmber 31, 2024 (Rupees in ‘000)
Half-Year Ended Dec-24 Dec-23 %Change
Revenue – net 5,409,370 5,266,228 2.72%
Direct costs (4,256,114) (3,903,114) 9.04%
Gross profit 1,153,256 1,363,114 -15.40%
Administrative & distribution costs (748,559) (682,184) 9.73%
Exchange (loss) / gain (335) (89,201) -99.62%
Other income and expenses (16,517) 8,168 -302.22%
Operating profit 387,845 599,897 -35.35%
Finance costs (58,673) (79,126) -25.85%
Profit before taxation & levy 329,172 520,771 -36.79%
Levy (54,737) -  
Profit before taxation 274,435 520,771 -47.30%
Taxation (93,342) (154,957) -39.76%
Profit after taxation 181,093 365,814 -50.50%
Profit / (loss) is attributable to:      
Owners of the Holding Group 118,994 327,362 -63.65%
Non-controlling interests 62,099 38,452 61.50%
Earnings per share - basic & diluted 0.35 0.97 -63.92%

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