TPL Corp reports Rs1bn 1HFY25 loss, improving 34% YoY

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.

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