Lahore: Octopus Digital Limited announced its financial results for the year ended December 31, 2024, revealing no dividends or additional shareholder entitlements for the fiscal year. The company’s Board of Directors met on March 28, 2025, to review the annual performance at The Avanceon Building in Lahore.
Octopus Digital reported consolidated revenue of 1.27 billion rupees for 2024, a rise from the previous year’s 919.67 million rupees. The cost of revenue was recorded at 655.12 million rupees, up from 546.08 million rupees in 2023. This resulted in a gross profit of 610.91 million rupees, compared to 373.59 million rupees in the prior year.
Administrative and selling expenses for the year were 368.38 million rupees, while other expenses amounted to 58.69 million rupees. Other income saw a significant decrease to 31.48 million rupees from 375.66 million rupees in 2023. This brought the total of other expenses to 395.58 million rupees, contrasting with a positive 8.02 million rupees the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the profit from operations was noted at 215.32 million rupees, a decline from the 381.61 million rupees achieved in 2023. Finance costs increased slightly to 2.98 million rupees from 1.60 million rupees the previous year, leading to a profit before taxation of 212.35 million rupees, down from 380.01 million rupees.
The company’s profit for the period was 205.55 million rupees, compared to 373.41 million rupees in 2023. The basic earnings per share were 1.31 rupees, while the diluted earnings per share stood at 1.28 rupees, both figures showing a decrease from the previous year’s 2.52 rupees and 2.50 rupees, respectively.
The Annual General Meeting is scheduled for April 30, 2025, in Lahore, where shareholders will have the opportunity to discuss the company’s financial performance and prospects. Share transfers will be closed from April 23 to April 30, 2025. The company plans to distribute its annual report through PUCARS at least 21 days before the meeting.