Karachi: TPL Properties Limited reported a net loss of 884.33 million rupees for the quarter ended September 30, 2024, compared to a loss of 222.82 million rupees in the same period last year, driven by rising administrative expenses and finance costs. According to information available from the Pakistan Stock Exchange (PSX), the company's financial performance reflected significant challenges, with increased operational costs impacting profitability.

For the reported period, the company recorded administrative and general expenses amounting to 80.86 million rupees, down from 110.18 million rupees a year earlier. Finance costs for the period rose to 171.71 million rupees, compared to 104.85 million rupees in the corresponding period of 2023, contributing substantially to the overall loss.

The income statement indicated that TPL Properties' loss before taxation reached 884.33 million rupees, up from 222.82 million rupees in the previous year. Additionally, the company reported other income of 65.85 million rupees, an increase from 49.51 million rupees reported in the same quarter last year, providing a partial offset to its losses.

The board of directors, meeting on October 28, 2024, also announced that no cash dividend, right shares, bonus shares, or other entitlements would be offered to shareholders for the quarter. The meeting was held at the company’s head office in Karachi, where it was disclosed that these financial results would be submitted through PUCARS within the specified time.

Furthermore, TPL Properties reported a consolidated loss per share of 1.85 rupees, a significant decrease from the loss per share of 0.59 rupees recorded in the corresponding period of 2023, signaling a continued strain on earnings per share.