TPL Properties trims losses by 11% in 9MFY25

MG News | April 24, 2025 at 03:12 PM GMT+05:00

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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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