TPL Trakker’s loss narrows by 17% despite 9% revenue dip
MG News | February 26, 2025 at 09:24 AM GMT+05:00
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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