TPL Corp reports Rs1bn 1HFY25 loss, improving 34% YoY
MG News | February 27, 2025 at 01:27 PM GMT+05:00
February 27, 2025 (MLN): TPL Corp Limited (PSX: TPL) has reported a net loss of Rs1 billion for the half-year ended December 31, 2024, marking a 34% improvement from the Rs2bn loss recorded in the same period last year.
The company’s earnings per share (EPS) stood at a loss of Rs0.36, a notable recovery from the Rs4.65 loss per share reported in the previous year.
The company attributed this decline in losses to a significant reduction in the cost of sales and distribution expenses, coupled with a drop in finance costs.
The company's turnover increased by 4% to Rs4bn compared to Rs3.7bn in the corresponding period of 2023.
Meanwhile, the cost of sales witnessed a sharp decline of 30.7% to Rs2.6bn, improving the gross profit to Rs1bn from a loss of Rs31.6 million in the previous period.
Operating loss stood at Rs568mn, reflecting a 70% decrease from the Rs2bn operating loss in the same period last year.
Distribution expenses fell by 33% to Rs185.7mn, while administrative expenses saw a slight increase of 5.6%, reaching Rs1.6bn.
TPL Corp's finance costs dropped 18.8% to Rs1bn, further easing pressure on the company’s bottom line.
However, other income declined sharply by 67% to Rs491mn.
A notable improvement was recorded in the company’s share of profit from PTF, which surged by 1138.4% to Rs48mn.
Taxation for the period resulted in a net gain of Rs77mn compared to a tax expense of Rs133mn in the previous period, supporting the company’s efforts to limit net losses.
Despite the improvement in financial performance, TPL Corp recorded a total comprehensive loss of Rs1bn for 2024, compared to Rs2bn in the corresponding period of 2023, marking a 32% improvement.
| Condensed Interim Consolidated statement of profit and loss (un-audited) for the half year ended December 31, 2024 (in Rupees) | 31-Dec-24 | 31-Dec-23 | %Change |
| Turnover - net | 3,904,246,080 | 3,755,415,565 | 3.96% |
| Cost of sales | (2,625,352,674) | (3,787,033,829) | -30.68% |
| Gross profit | 1,278,893,406 | (31,618,264) | |
| Distribution expenses | (185,689,530) | (278,067,033) | -33.22% |
| Administrative expenses | (1,661,107,606) | (1,572,754,642) | 5.62% |
| Operating (loss) | (567,903,729) | (1,882,439,939) | -69.83% |
| Other expense | (113,952,183) | (111,232,304) | 2.45% |
| Finance cost | (1,034,522,736) | (1,273,839,787) | -18.79% |
| Other income | 491,291,113 | 1,487,575,432 | -66.97% |
| Add/(Less) Share of PTF | 48,136,586 | 3,886,987 | 1138.40% |
| (Loss) / profit before taxation | (1,176,950,949) | (1,776,049,612) | -33.73% |
| Taxation | 77,041,917 | (133,451,538) | |
| (Loss) / profit after taxation | (1,253,992,866) | (1,909,501,150) | -34.33% |
| Fair value (loss)/gain on equity instruments designated at fair value through other comprehensive income (FVTOCI) | (34,875,010) | 33,090 | |
| Exchange differences on translation of foreign operations | (366,201) | 12,915,622 | |
| Total comprehensive income / (loss) for the period | (1,289,234,077) | (1,896,552,438) | -32.02% |
| Earning / (loss) per share - basic and diluted | (0.36) | (4.65) |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 157,132.10 429.92M | 3.39% 5159.10 |
| ALLSHR | 93,566.86 763.32M | 2.62% 2388.00 |
| KSE30 | 48,302.97 218.66M | 4.27% 1976.50 |
| KMI30 | 220,798.52 207.58M | 4.07% 8628.34 |
| KMIALLSHR | 59,988.53 433.51M | 2.75% 1606.15 |
| BKTi | 46,193.08 61.76M | 4.26% 1887.06 |
| OGTi | 30,193.10 21.94M | 3.73% 1086.31 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 68,300.00 | 69,740.00 66,385.00 | -1180.00 -1.70% |
| BRENT CRUDE | 83.70 | 85.12 78.38 | 5.96 7.67% |
| RICHARDS BAY COAL MONTHLY | 99.40 | 0.00 0.00 | -7.85 -7.32% |
| ROTTERDAM COAL MONTHLY | 130.00 | 139.50 129.00 | 11.20 9.43% |
| USD RBD PALM OLEIN | 1,083.50 | 1,083.50 1,083.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 76.94 | 77.98 70.41 | 5.71 8.02% |
| SUGAR #11 WORLD | 13.98 | 14.20 13.91 | 0.07 0.50% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
Trade Balance