TPL Properties losses widen four times

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MG News | October 28, 2024 at 01:03 PM GMT+05:00

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October 28, 2024 (MLN): TPL Properties Limited (PSX: TPLP) recorded a net loss of Rs884.33 million [LPS: Rs1.58] during the quarter ending September 2024, up a significant 296.9% from the loss of Rs222.82m [LPS: Rs0.40] in the same period last year (SPLY).

The company's top line, which includes unrealized gain/losses on investments in REIT fund as well as gain/loss on sale of properties, recorded a loss of Rs697.6m as compared to Rs21.2m in SPLY.

Meanwhile, its other income increased by 33.0% to stand at Rs65.85m in Q1 FY25 as compared to Rs49.51m in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
  Sep 24 Sep 23 % Change
Income/ (loss) (697,599) (21,300) -
Administrative Expenses (80,858) (110,181) -26.61%
Other Income 65,846 49,510 33.00%
Finance Cost (171,714) (140,848) 21.91%
Profit/ (loss) before taxation (884,325) (222,820) 296.88%
Taxation - - -
Net profit/ (loss) for the period (884,325) (222,820) 296.88%
Basic earnings/ (loss) per share (1.58) (0.40) -

Amount in thousand except for EPS

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