TPL Properties losses widen four times
MG News | October 28, 2024 at 01:03 PM GMT+05:00
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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