TPL Corp Limited (PSX: TPL) has reported one of its strongest quarterly turnarounds in recent years, posting a profit after tax of Rs1.23 billion for the quarter ended September 30, 2025, compared to a loss of Rs1.57 billion in the same period last year. The company’s performance reflects a mix of expanding business activity, strengthened margins, and more efficient cost controls, resulting in a substantial rebound across core operations.
The most prominent driver of this recovery was the significant growth in turnover. Net sales for the quarter reached Rs3.58 billion, nearly double the Rs1.87 billion recorded in the same quarter of FY24. This 91 percent increase demonstrates a marked improvement in commercial activity across TPL’s diverse business segments. The surge in revenue also provided a strong foundation for higher profitability throughout the period.
Cost efficiency played an equally important role in the company’s resurgence. Cost of sales dropped by 9 percent to Rs1.13 billion, a notable improvement from the previous year. As a result, TPL’s gross profit jumped to Rs2.45 billion, reflecting an impressive 285 percent increase from the Rs636.4 million recorded last year. This improvement underscores the company’s ability to manage operational expenditures even as revenue expanded sharply.
On the expense side, distribution costs declined by 25 percent to Rs70.06 million, while administrative expenses rose 25 percent to Rs900.8 million. Despite the increase in administrative costs, the overall operating structure still supported a significant turnaround. TPL reported an operating profit of Rs1.48 billion for the quarter, in contrast to an operating loss of Rs178.4 million during the same period last year.
The company also benefited from improvements in ancillary revenue streams. Other income increased to Rs90.60 million, compared to a loss of Rs559.47 million last year. Finance costs fell substantially by 61 percent to Rs258.21 million, reflecting improvements in financial management and reduced borrowing pressure. These gains further strengthened the company’s bottom line.
TPL recorded a share of loss from associate amounting to Rs1.17 million, while the share of PTF contributed positively with Rs16.96 million, a notable improvement from the loss of Rs8.34 million recorded a year earlier. Profit before taxation reached Rs1.27 billion, reversing the previous year’s pre-tax loss of Rs1.53 billion. Taxation expenses increased 13 percent to Rs45.07 million, but the company still concluded the quarter with a healthy net profit of Rs1.23 billion.
Additionally, TPL reported a fair value gain of Rs3.67 million on equity instruments, compared to a fair value loss of Rs7.39 million last year. Total comprehensive income for the quarter stood at Rs1.23 billion, marking a complete reversal from the comprehensive loss recorded the previous year. Earnings per share improved to Rs1.10, compared to a loss per share of Rs3.49 in the corresponding quarter.
This strong performance highlights a pivotal recovery for TPL Corp, driven by a substantial rise in revenue, improved gross margins, stronger operating outcomes, and disciplined financial management. The quarterly results signal renewed momentum for the group as it navigates a dynamic economic and business environment.
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