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

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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