TPL Properties trims losses by 11% in 9MFY25
MG News | April 24, 2025 at 03:12 PM GMT+05:00
April 24, 2025 (MLN): TPL Properties Limited (PSX: TPLP) reported a consolidated net loss of Rs1.97 billion [LPS: Rs3.5] for the period ended March 31, 2025, reflecting a 10.5% improvement compared to the loss of Rs2.2bn [LPS: Rs3.92] recorded in the same period last year (SPLY).
While the company continued to report negative income of Rs424.69m, the loss narrowed by 38.52% from Rs690.78m in SPLY.
Direct operating costs rose sharply by 74.73% to Rs115.49m, but the gross loss still contracted by 28.63%, amounting to Rs540.18m versus Rs756.88m in the previous year.
Administrative and general expenses edged up 7.02% to Rs1.06 billion, while finance costs decreased by 9.59%, totaling Rs394.77m. On the positive side, other income surged by 181.57% to Rs80.41m, helping partially offset expenses.
Loss before taxation was recorded at Rs1.92bn, improving 11.17% from Rs2.16bn in the comparable period.
Taxation rose by nearly 30% to Rs46.77m. Consequently, the total comprehensive loss stood at Rs1.97bn, marking a 10.76% reduction year-on-year.
| CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT & LOSS FOR THE PERIOD ENDED MARCH 31, 2025 | |||
| Description | Mar-25 | Mar-24 | %Change |
| Income / (Loss) | (424,687,623) | (690,780,228) | -38.52% |
| Direct operating costs | (115,489,613) | (66,096,069) | 74.73% |
| Gross profit / (loss) | (540,177,236) | (756,876,297) | -28.63% |
| Administrative and general expenses | (1,063,635,341) | (993,837,499) | 7.02% |
| Finance costs | (394,772,972) | (436,659,978) | -9.59% |
| Other income | 80,409,298 | 28,557,581 | 181.57% |
| Other expenses | (1,302,000) | (2,143,000) | -39.24% |
| Loss before taxation | (1,919,478,252) | (2,160,959,193) | -11.17% |
| Taxation | (46,772,524) | (36,007,735) | 29.90% |
| Loss for the period | (1,966,250,776) | (2,196,966,928) | -10.50% |
| Other comprehensive income / (loss) for the period | 372,000 | (5,913,000) | |
| Total comprehensive income / (loss) for the period | (1,965,878,776) | (2,202,879,928) | -10.76% |
| Attributable to: | |||
| Owners of the Holding Company | (1,965,878,776) | (2,202,879,928) | -10.76% |
| Loss per share - basic and diluted | (3.5) | (3.92) | -10.71% |
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