TPL Properties posts Rs1.9bn loss in three months

By MG News | Category Equity | September 25, 2024 at 09:47 AM GMT+05:00

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September 25, 2024 (MLN): TPL Properties Limited (PSX: TPLP) posted a loss after tax of Rs1.9 billion [LPS: Rs3.39] during the quarter ending June 2024, up significantly by 480.5% compared to the loss of Rs327.94 million [LPS: Rs0.6] incurred in the same period last year (SPLY).

Going by the results, 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 Rs3.08bn as compared to an income of Rs242m in SPLY.

On the expense side, the company's administrative and general expenses fell 41.8% from a year ago to Rs329.54m in the fourth quarter of the company financial year.

The company's other income surged 364.4% to stand at Rs414.83m in Q4 FY24 as compared to Rs89.33m in SPLY. Finance cost rose 136.7% and stood at Rs167.92m as compared to Rs70.93m in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
	Jun 24	Jun 23	% Change
Net Income/ (Loss)	(3,084,780)	242,000	-
Administrative Expenses	(329,542)	(566,063)	-41.78%
Other Gains / (Losses)	1,263,800	-	-
Other Income	414,830	89,328	364.39%
Finance Cost	(167,925)	(70,933)	136.74%
Profit/ (loss) before taxation	(1,903,617)	(319,868)	495.13%
Taxation	-	(8,075)	-100.00%
Net profit/ (loss) for the period	(1,903,617)	(327,943)	480.47%
Basic earnings/ (loss) per share	(3.39)	(0.60)	-

Amount in thousand except for EPS

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