Treet Battery powers up, cutting net losses by 38% to Rs174mn
MG News | February 25, 2025 at 03:17 PM GMT+05:00
February 25, 2025 (MLN): Treet Battery Limited (TBL) has reported a reduced net loss of Rs174 million for the half-year ended December 31, 2024, marking a 38% improvement compared to the Rs283mn loss in the same period last year.
TBL also reported an improved loss per share (LPS) of Rs0.2, compared to Rs0.32 in the corresponding period last year.
The company’s net sales surged by 16%, reaching Rs4.2 billion, up from Rs3.6bn in the previous year.
Despite the increase in revenue, TBL faced a 17.6% rise in the cost of sales, amounting to Rs3.4bn, which led to a 9.7% growth in gross profit at Rs814.4mn.
However, the company’s administration and general expenses more than doubled to Rs55mn, reflecting a 146% increase, while selling and distribution expenses rose by 7.6% to Rs401.8mn.
TBL’s operating profit saw a marginal increase of 3%, reaching Rs357.5mn.
The company benefited from a 139% rise in other income, amounting to Rs75mn, which helped offset a 73.4% increase in other expenses to Rs5.4mn.
Notably, finance costs declined by 11.8% to Rs555.4mn, easing some of the financial burden.
The company’s pre-tax loss improved by 37.6%, reducing to Rs187mn from Rs300mn in the previous year.
After accounting for income tax of Rs12.8mn, the final net loss for the period stood at Rs174.2mn.
| Condensed interim profit and loss statement (un-audited) for the half year ended December 31, 2024 (in Rupees) | 2024 | 2023 | %Change |
| Sales - net | 4,199,915 | 3,620,670 | 16.00% |
| Cost of sales | (3,385,493) | (2,878,746) | 17.60% |
| Gross profit | 814,422 | 741,924 | 9.77% |
| Administration and general expenses | (55,101) | (22,372) | 146.29% |
| Selling and distribution expenses | (401,834) | (373,409) | 7.61% |
| Operating profit | 357,487 | 346,143 | 3.28% |
| Other expenses | (5,416) | (3,124) | 73.37% |
| Finance cost | (555,386) | (629,222) | -11.73% |
| Other income | 74,936 | 31,360 | 138.95% |
| Loss before levies and income tax | (128,379) | (254,843) | -49.62% |
| Levies | (58,710) | (45,258) | 29.72% |
| Loss before income tax | (187,089) | (300,101) | -37.66% |
| Taxation - Income tax | 12,831 | 16,446 | -21.98% |
| Loss for the period | (174,258) | (283,655) | -38.57% |
| Loss per share - basic and diluted | (0.20) | (0.32) |
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