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

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.

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