Tri-Star Power tightens the belt, losses drop by 49%

MG News | February 27, 2025 at 06:32 PM GMT+05:00

0:00

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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