Tri-Star Power tightens the belt, losses drop by 49%
MG News | February 27, 2025 at 06:32 PM GMT+05:00
February 27, 2025 (MLN): Tri-Star Power Limited (PSX: TSPL) has reported a net loss of Rs3.87 million [LPS: Rs0.26] for the half-year ended December 31, 2024, showing an improvement of 49% compared to a net loss of Rs7.59mn [LPS: Rs0.51] in the same period last year (SPLY).
The company's revenue dropped to zero from Rs5mn in SPLY, leading to a gross loss of Rs141,362 against a gross profit of Rs4.84mn in the previous year.
The cost of sales decreased by 10% YoY to Rs141,362, but the absence of revenue significantly impacted profitability.
Operating expenses saw a 14.67% YoY decline to Rs7.27mn, mainly due to a 46.67% reduction in administrative and general expenses, which stood at Rs7.12mn.
However, financial expenses surged 2638.10% YoY, reaching Rs2,875 from Rs105 in SPLY.
Other income jumped significantly by 237.43% YoY to Rs3.4mn, providing some relief to the company's bottom line.
The taxation expense was nil in 1HFY25, compared to Rs75,000 in the previous year.
| Financial Result For The Half Year Ended December 31, 2024 | |||
| Particulars | Dec-24 | Dec-23 | %Change |
| Revenue | - | 5,000,000 | |
| Cost of Sales | (141,362) | (157,069) | -10.00% |
| Gross (Loss) / Profit | (141,362) | 4,842,931 | -102.92% |
| Operating Expenses | |||
| Administrative and General Expenses | (7,129,296) | (13,367,128) | -46.67% |
| Financial Expenses | (2,875) | (105) | 2638.10% |
| Total Operating Expenses | (7,273,533) | (8,524,301) | -14.67% |
| Other Income | 3,402,000 | 1,008,219 | 237.43% |
| Net Operating (Loss) / Profit | (3,871,533) | (7,516,082) | -48.49% |
| Taxation | - | (75,000) | |
| Net (Loss) / Profit for the Period | (3,871,533) | (7,591,082) | -49.00% |
| (Loss) / Earnings Per Share - Basic & Diluted | (0.26) | (0.51) | -49.02% |
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