Telecard sees 50% profit decline in half-year results

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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