February 27, 2025 (MLN): TPL Corp Limited (PSX: TPL) has reported a net loss of Rs1 billion for the half-year ended December 31, 2024, marking a 34% improvement from the Rs2bn loss recorded in the same period last year.The company’s earnings per share (EPS) stood at a loss of Rs0.36, a notable recovery from the Rs4.65 loss per share reported in the previous year.The company attributed this decline in losses to a significant reduction in the cost of sales and distribution expenses, coupled with a drop in finance costs.The company's turnover increased by 4% to Rs4bn compared to Rs3.7bn in the corresponding period of 2023.Meanwhile, the cost of sales witnessed a sharp decline of 30.7% to Rs2.6bn, improving the gross profit to Rs1bn from a loss of Rs31.6 million in the previous period.Operating loss stood at Rs568mn, reflecting a 70% decrease from the Rs2bn operating loss in the same period last year.Distribution expenses fell by 33% to Rs185.7mn, while administrative expenses saw a slight increase of 5.6%, reaching Rs1.6bn.TPL Corp's finance costs dropped 18.8% to Rs1bn, further easing pressure on the company’s bottom line.However, other income declined sharply by 67% to Rs491mn.A notable improvement was recorded in the company’s share of profit from PTF, which surged by 1138.4% to Rs48mn.Taxation for the period resulted in a net gain of Rs77mn compared to a tax expense of Rs133mn in the previous period, supporting the company’s efforts to limit net losses.Despite the improvement in financial performance, TPL Corp recorded a total comprehensive loss of Rs1bn for 2024, compared to Rs2bn in the corresponding period of 2023, marking a 32% improvement.Condensed Interim Consolidated statement of profit and loss (un-audited) for the half year ended December 31, 2024 (in Rupees)31-Dec-2431-Dec-23%ChangeTurnover – net 3,904,246,080 3,755,415,5653.96%Cost of sales (2,625,352,674) (3,787,033,829)-30.68%Gross profit 1,278,893,406 (31,618,264) Distribution expenses (185,689,530) (278,067,033)-33.22%Administrative expenses (1,661,107,606) (1,572,754,642)5.62%Operating (loss) (567,903,729) (1,882,439,939)-69.83%Other expense (113,952,183) (111,232,304)2.45%Finance cost (1,034,522,736) (1,273,839,787)-18.79%Other income 491,291,113 1,487,575,432-66.97%Add/(Less) Share of PTF 48,136,586 3,886,9871138.40%(Loss) / profit before taxation (1,176,950,949) (1,776,049,612)-33.73%Taxation 77,041,917 (133,451,538) (Loss) / profit after taxation (1,253,992,866) (1,909,501,150)-34.33%Fair value (loss)/gain on equity instruments designated at fair value through other comprehensive income (FVTOCI) (34,875,010) 33,090 Exchange differences on translation of foreign operations (366,201) 12,915,622 Total comprehensive income / (loss) for the period (1,289,234,077) (1,896,552,438)-32.02%Earning / (loss) per share – basic and diluted (0.36) (4.65) Copyright Mettis Link NewsPosted on: 2025-02-27T13:27:03+05:00The post TPL Corp reports Rs1bn 1HFY25 loss, improving 34% YoY appeared first on Mettis Global Link.