Karachi: TPL Corp Limited, a major corporation listed on the Pakistan Stock Exchange, has reported significant financial losses for the third quarter ended September 30, 2024. According to a letter addressed to the Pakistan Stock Exchange dated October 30, 2024, the company recorded no dividend income for the quarter, contrasting sharply with the previous year's figure of 314.68 million Rupees.

The company's financial statements reveal an operating loss of 34.61 million Rupees, exacerbated by finance costs amounting to 394.15 million Rupees. Other expenses totaled 21.43 million Rupees, while other income stood at 815.35 million Rupees. Despite these figures, the loss before taxation dramatically increased to 449.38 million Rupees from last year's loss of 13.32 million Rupees.

Furthermore, the company reported a substantial fair value loss on equity instruments of 462.23 million Rupees, contributing to a total comprehensive loss for the period of 911.61 million Rupees. According to information available from the Pakistan Stock Exchange (PSX), the basic and diluted loss per share increased to 1.68 Rupees, up from a loss of 0.23 Rupees per share in the corresponding quarter of the previous year.

The consolidated financial overview for TPL Corp indicates a net turnover of 1.87 billion Rupees, down from 1.93 billion Rupees in the previous year. The cost of sales was reported at 1.23 billion Rupees, resulting in a gross profit of 636.00 million Rupees. Administrative expenses also saw a significant rise, totaling 720.86 million Rupees, leading to an operating loss of 178.43 million Rupees after accounting for other expenses and finance costs.

The total comprehensive income for the period was reported as a loss of 1.58 billion Rupees, a considerable increase from the previous year's loss of 418.87 million Rupees. Earnings per share reflected this downturn, with a loss per share of 3.49 Rupees compared to a modest profit of 0.28 Rupees per share in the previous year.

This significant downturn in financial performance highlights the challenges faced by TPL Corp in the current economic environment. The company's detailed financial statements have been transmitted to the Pakistan Stock Exchange and are available for shareholder review.