TPL Trakker’s loss narrows by 17% despite 9% revenue dip

MG News | February 26, 2025 at 09:24 AM GMT+05:00

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February 26, 2025 (MLN): TPL Trakker Limited (PSX: TPLT) reported a net loss after tax of Rs34.63 million for the half-year ending December 31, 2024, compared to a loss of Rs41.57mn in the same period last year, marking a 16.68% decline.

The company's revenue fell by 8.89% to Rs1.47 billion from Rs1.61bn in the corresponding period of the previous year.

Meanwhile, the cost of sales remained relatively stable, decreasing by only 0.64% to Rs890.7mn.

As a result, gross profit declined by 19.12% to Rs584.7mn.

Operating profit also saw a significant drop of 39.94% to Rs157.5mn, reflecting higher expenses and reduced revenue.

Distribution expenses fell by 3.75% to Rs67.23mn, while administrative expenses declined by 7.89% to Rs359.98mn.

Research and development costs also saw a slight reduction of 5.17%, amounting to Rs45.49mn.

Other expenses plunged 96.54% to Rs64,349, but finance costs remained high at Rs212.82mn, though they were down 24.05% from last year.

Other income declined 23.27% to Rs55.28mn.

The company's loss before tax stood at Rs45.6mn, a stark contrast to the profit of Rs4.22mn in the same period last year.

Taxation expenses fell 29.81% to Rs12.27mn, while deferred tax increased significantly to Rs45.71mn from Rs13.51mn.

Total comprehensive loss for the period stood at Rs35mn, up 22.15% from Rs28.65mn last year.

Earnings per share (EPS) for the period dropped to Rs-0.13 from Rs0.05 in the prior year, reflecting the challenging financial performance.

Consolidated Profit and Loss For The Half Year Ended Decmber 31, 2024
Particulars	Dec-24	Dec-24	%Change
Turnover – net	1,475,418,886	1,619,359,672	-8.89%
Cost of sales and services	(890,699,742)	(896,455,117)	-0.64%
Gross profit	584,719,144	722,904,555	-19.12%
Distribution expenses	(67,230,221)	(69,849,429)	-3.75%
Administrative expenses	(359,983,783)	(390,816,597)	-7.89%
Operating profit	157,505,140	262,238,529	-39.94%
Research and development expenses	(45,499,012)	(47,977,159)	-5.17%
Other expenses	(64,349)	(1,859,738)	-96.54%
Finance costs	(212,824,836)	(280,212,122)	-24.05%
Other income	55,279,358	72,039,364	-23.27%
(Loss) / Profit before taxation	(45,603,698)	4,228,874	-
Taxation	(12,269,119)	(17,478,711)	-29.81%
(Loss) for the period	(57,872,817)	(13,249,837)	336.78%
Income tax:
- Current - for the year	(22,476,505)	(41,829,400)	-46.27%
- Deferred	45,714,766	13,508,634	238.41%
Total income tax	23,238,261	(28,320,766)	-182.05%
(Loss) for the period after tax	(34,634,556)	(41,570,603)	-16.68%
Items that may be reclassified to profit or loss:
Exchange differences on translation of foreign subsidiary	(366,201)	12,915,622	-102.84%
Total comprehensive (loss) / income for the period	(35,000,757)	(28,654,981)	22.15%
Profit / (Loss) attributable to:
- Owners of the Parent Company	(24,567,207)	10,159,811	-341.81%
- Non-controlling interest	(10,067,349)	(51,730,414)	-80.54%
Total comprehensive income / (loss) attributable to:
- Owners of the Parent Company	(24,750,308)	16,617,622	-248.94%
- Non-controlling interest	(10,250,449)	(45,272,603)	-77.36%
Total comprehensive income / (loss)	(35,000,757)	(28,654,981)	22.15%
Earnings / (Loss) per share – basic and diluted	(0.13)	0.05	-360.00%

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