TPL Trakker Q4 profit falls 20% to Rs29.4m

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By MG News | September 24, 2024 at 03:24 PM GMT+05:00

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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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