TPL Trakker Q4 profit falls 20% to Rs29.4m
MG News | September 24, 2024 at 03:24 PM GMT+05:00
September 24, 2024 (MLN): TPL Trakker Limited (PSX: TPLT) posted a profit after tax of Rs29.44 million [EPS: Rs0.16] for the quarter ending June 2024, down 20.2% from the same period last year despite a surge in gross profit.
Going by the results, the company's revenue increased 5.7% to Rs636.67m as compared to Rs602.58m in SPLY.
Moreover, the cost of sales fell by 12.9%, improving the gross profit by 32.8% to Rs324.44m in Q4 FY24.
The gross margins rose to 51.0% as compared to 40.5% in SPLY.
During the period under review, other income dipped 34.5% to stand at Rs60.09m in Q4 FY24 as compared to Rs91.77m in SPLY.
On the expense side, the company's administrative expenses jumped significantly by 72.1% from last year to Rs118.06m, selling and distribution expenses rose 17.9% to Rs30.7m, and other operating expenses increased 41.7% to Rs90.04m.
The company’s finance cost inched down by 0.3% and stood at Rs125.24m as compared to Rs125.65m in SPLY.
On the tax front, the company received a tax credit worth Rs8.95m against tax expense of Rs15.4m paid in the corresponding period of last year, depicting an increase of .
| Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
|---|---|---|---|
| Jun 24 | Jun 23 | % Change | |
| Sales | 636,666 | 602,581 | 5.66% |
| Cost of sales | (312,223) | (358,258) | -12.85% |
| Gross Profit/ (loss) | 324,443 | 244,323 | 32.79% |
| Administrative Expenses | (118,059) | (68,597) | 72.11% |
| Selling And Distribution Expenses | (30,701) | (26,046) | 17.87% |
| Other Income | 60,086 | 91,770 | -34.52% |
| Other Operating Expenses | (90,043) | (63,529) | 41.74% |
| Finance Cost | (125,241) | (125,646) | -0.32% |
| Profit/ (loss) before taxation | 20,485 | 52,276 | -60.81% |
| Taxation | 8,952 | (15,398) | - |
| Net profit/ (loss) for the period | 29,438 | 36,877 | -20.17% |
| Basic earnings/ (loss) per share | 0.16 | 0.20 | - |
Amount in thousand except for EPS
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