TPL Properties posts Rs1.9bn loss in three months
MG News | September 25, 2024 at 09:47 AM GMT+05:00
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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