+92 (42) 111 940 940
+92 (42) 3545 6957
support@octopusdtl.com
The Avanceon Building, 19KM Main Multan Road, Lahore 54660, Pakistan
02 May 2025 ODL/PSX/F/02052025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road, Karachi
Subject: Financial results for the 1stQuarter ended 31 March 2025 - Consolidated and Standalone.Dear Sir,
We would like to inform you that the Board of Directors of our Company in their meeting held at Wednesday, 30 April 2025 at 04:30 P.M. at The Avanceon Building, 19-Km, Main Multan Road, Lahore / online, recommended the following: -
CASH DIVIDEND NIL
BONUS SHARES NIL
RIGHT SHARES NIL
ANY OTHER ENTITLEMENT/CORPORATE ACTION NIL
ANY OTHER PRICE-SENSITIVE INFORMATION NIL
The unaudited financial results of the company (consolidated and standalone) for the 1stQuarter ended 31 March 2025 are as per attachment.
The Quarterly Report of the Company for the period ended 31 March 2025 will be transmitted through PUCARS separately, within specified time.
Yours truly,
Ahsan Khalil | Company Secretary cc:
Director/HOD,
Surveillance, Supervision and Enforcement Department, Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad.
OCTOPUS DIGITAL GROUP
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2025
Un-Audited | Audited | Un-Audited | Audited | ||||
Mar 31, 2025 (Rupees | Dec 31, 2024 in '000) | Mar 31, 2025 (Rupees | Dec 31, 2024 in '000) | ||||
EQUITY AND LIABILITIES | ASSETS | ||||||
SHARE CAPITAL AND RESERVES | |||||||
Authorised capital - 250,000,000 @ Rs. 10 each | 2,500,000 | 2,500,000 | NON CURRENT ASSETS | ||||
ISSUED, SUBSCRIBED AND PAID UP CAPITAL | Property and equipment | 30,952 | 32,436 | ||||
Capital Work in Progress | 3,545 | ||||||
157,262,502 (2024: 157,262,502) ordinary shares @ Rs. 10 each | 1,572,625 | 1,572,625 | Intangibles | 600,993 | 550,317 | ||
Goodwill | 221,810 | 221,810 | |||||
CAPITAL RESERVES | Deferred Tax Assets | 19,390 | 19,390 | ||||
Share premium | 789,209 | 789,209 | Long term deposits | 100 | 100 | ||
Group restructuring reserve | (1,050,259) | (1,050,259) | 876,789 | 824,053 | |||
Exchange Translation Reserve | 9,754 | 4,226 | |||||
Employees' share compensation reserve | 37,480 | 37,480 | |||||
REVENUE RESERVES | (213,816) | (219,344) | |||||
Un-appropriated Profit | 1,364,750 | 1,346,007 | |||||
2,723,559 | 2,699,288 | ||||||
NON CURRENT LIABILITIES | |||||||
Long Term Diminishing Musharika | 13,346 | 12,810 | CURRENT ASSETS | ||||
CURRENT LIABILITIES | Stock in trade | 34 | |||||
Trade debts | 1,508,163 | 1,428,742 | |||||
Current portion of Long Term Diminishing Musharika | 2,588 | 4,460 | Contract Assets | 220,884 | 210,554 | ||
Creditors, accrued and other liabilities | 382,426 | 262,230 | Advances, deposits, prepayments | ||||
Contract Liabilities | 6,489 | 2,224 | and other receivables | 477,498 | 518,355 | ||
Taxation-Net | 21,329 | 22,759 | Tax refurn from authorities | 626 | |||
412,831 | 291,674 | Investments in Stocks | 548 | 539 | |||
Cash and bank balances | 65,194 | 21,528 | |||||
CONTINGENCIES AND COMMITMENTS | 2,272,947 | 2,179,719 | |||||
3,149,736 | 3,003,772 | 3,149,736 | 3,003,772 | ||||
Director
Chief Executive Officer Chief Financial Officer
OCTOPUS DIGITAL GROUP
CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED)
FOR THE FIRST QUARTER ENDED MARCH 31, 2025
First Quarter Ended
Mar 31, 2025 Mar 31, 2024
(Rupees in '000)
Revenues | 231,458 | 313,859 | |
Cost of revenue | (128,611) | (109,349) | |
Gross Profit / (Loss) | 102,846 | 204,511 | |
Administrative and selling expenses | (94,729) | (70,185) | |
Other expenses | (50) | (298) | |
Other income | 21,818 | 697 | |
(72,960) | (69,786) | ||
Profit / (Loss) from operations | 29,886 | 134,725 | |
Finance costs | (9,219) | (76) | |
Profit / (Loss) before tax | 20,667 | 134,649 | |
Taxation | (1,924) | (10,951) | |
Profit / (Loss) for the period after tax | 18,743 | 123,697 | |
Combined earnings per share | |||
Basic | 0.13 | 0.84 | |
Diluted | 0.13 | 0.83 |
Chief Executive Officer Chief Financial Officer Director
OCTOPUS DIGITAL GROUP
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE FIRST QUARTER ENDED MARCH 31, 2025
Un-appropriated (loss) / profit
REVENUE RESERVES
TOTAL
Non-Controlling Interest
CAPITAL RESERVES | ||||
Share capital | Share premium reserve | Employee share compensation reserve | Group Restructuring Reserve | Exchange revaluation reserve |
Particulars
….............(Rupees in '000)…............
Balance as on January 01, 2024 1,572,625 789,209 9,264 (1,050,259) 1,140,982 2,461,821
Profit for the period 205,025 205,025
Other comprehensive income
205,025 205,025
Exchange translation reserve 4,226 4,226
Employee share option reserve 28,216 28,216 Adjustment due to acquisition of subsidiary
28,216 | 4,226 | 32,442 | |||||
Balance as on December 31, 2024 | 1,572,625 | 789,209 | 37,480 | (1,050,259) | 4,226 | 1,346,007 | 2,699,288 |
Profit for the period | 18,743 | 18,743 | |||||
Other comprehensive income / loss | 5,528 | 5,528 | |||||
5,528 | 18,743 | 24,271 | |||||
Employee share option reserve Retainned earnings of subsidiaries
Balance as on March 31, 2025 1,572,625 789,209 37,480 (1,050,259) 9,754 1,364,750 2,723,559
Chief Executive Officer Chief Financial Officer Director
OCTOPUS DIGITAL GROUP CONSOLIDATED CONDENSED INTERIM STATEMENT OF CASHFLOWS (UN-AUDITED)FOR THE FIRST QUARTER ENDED MARCH 31, 2025
First Quarter Ended
Mar 31, 2025 Mar 31, 2024
(Rupees in '000)
CASH FLOW FROM OPERATING ACTIVITIES | |||
Profit/ (loss) before tax | 20,667 | 134,649 | |
Adjustments for: | |||
Depreciation on property and equipment | 3,308 | 5,685 | |
Amortization | 5,286 | 5,286 | |
Exchange gain | 9,312 | 219 | |
Exchange revaluation reserve | 5,528 | - | |
Makup on loan to parent company | (12,480) | - | |
Finance cost | 9,219 | - | |
Income on bank deposits | (14) | - | |
20,158 | 11,189 | ||
Profit before working capital changes (Increase) / decrease in current assets | 40,825 | 145,838 | |
- Stock in trade | (34) | (307) | |
- Trade debts | (88,733) | (6,261) | |
- Contract Assets | (10,330) | (97,304) | |
| 53,337 120,196 | 83,068 -6,920 | |
- Contract Liabilities | 4,264 | 2,406 | |
78,701 | (11,478) | ||
Cash (used in) / generated from operations | 119,527 | 134,360 | |
Cash generated from continuing operations | 119,527 | 134,360 | |
Finance costs | (9,219) | (76) | |
Taxes | (3,980) | (1,467) | |
Net cash (used in) / generated from operating activities | 106,327 | 132,817 | |
Cash flows from investing activities | |||
Purchase of property and equipment | (1,823) | (1,399) | |
Additions in intangible assets - capital work in progress | (3,545) | - | |
Additions in intangible assets | (55,962) | (50,810) | |
Increase / decrease in short term Investment | (9) | (5,445) | |
Profit on bank deposit | 14 | 78 | |
Net cash (used in) / generated from investing activities | (61,325) | (57,575) | |
Cash flows from financing activities | |||
Repayment of lease liabilities | (1,337) | - | |
Net cash (used in) / generated from financing activities | (1,337) | ||
Net (decrease) / increase in cash and cash equivalents | 43,665 | 75,242 | |
Cash and cash equivalents at the beginning of year | 21,528 | 38,403 | |
Cash and cash equivalents at the end of period | 65,194 | 113,644 | |
Chief Executive Officer Chief Financial Officer Director OCTOPUS DIGITAL LIMITED UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2025
Un-audited Audited Un-audited Audited
Mar 31, 2025 Dec 31, 2024 Mar 31, 2025 Dec 31, 2024
(Rupees in '000) (Rupees in '000)
EQUITY AND LIABILITIES | ASSETS | ||||||
SHARE CAPITAL AND RESERVES | NON CURRENT ASSETS | ||||||
Authorised capital - 250,000,000 @ Rs. 10 each | 2,500,000 | 2,500,000 | |||||
Issued, subscribed and Paid up Capital | |||||||
157,262,502 (2024 157,262,502) ordinary shares @ Rs. 10 each | 1,572,625 | 1,572,625 | Property, plant and equipment | 30,869 | 32,208 | ||
Group Restructuring Reserve | (1,084,000) | (1,084,000) | Long term investments | 447,893 | 447,893 | ||
Share premium | 789,209 | 789,209 | Deferred Tax Asset | 19,390 | 19,390 | ||
Emplyees Options Reserve | 37,480 | 37,480 | Intengible Assets | 3,545 | 3,647 | ||
Accumulated (loss)/profit | 1,367,789 | 1,375,814 | Long term advances and deposits | 100 | 100 | ||
2,683,104 | 2,691,129 | 501,797 | 503,237 | ||||
NON CURRENT LIABILITIES | |||||||
Long Term Diminishing Musharika | 13,346 | 12,809 | CURRENT ASSETS | ||||
Stock in trade | 34 | - | |||||
CURRENT LIABILITIES | Trade debts | 1,342,872 | 1,456,172 | ||||
Trade and other payables | 284,120 | 280,764 | Contract Assets | 107,325 | 103,909 | ||
Current portion of Diminishing Musharika | 2,588 | 4,460 | Short term Investment | 548 | 539 | ||
Contract Liabilities | 2,698 | 2,224 | Short term loan | ||||
Taxation - net | 20,970 | 22,399 | Other Assets and Prepayments | 1,030,009 | 940,973 | ||
310,376 | 309,848 | Cash and bank balances | 24,240 | 8,955 | |||
CONTINGENCIES AND COMMITMENTS | 2,505,028 | 2,510,548 | |||||
3,006,826 | 3,013,785 | 3,006,826 | 3,013,785 | ||||
Chief Executive Officer Chief Financial Officer Director OCTOPUS DIGITAL LIMITED UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFFIT OR LOSS (UN-AUDITED) FOR THE FIRST QUARTER ENDED MARCH 31, 2025
First Quarter Ended
Mar 31, 2025 Mar 31, 2024
(Rupees in '000)
Revenue | 51,424 | 219,202 | |
Cost of Revenue | (28,495) | (100,106) | |
Gross profit | 22,929 | 119,096 | |
Administrative and selling expenses | (50,688) | (69,205) | |
Other Expenses | (9) | ||
Other Income | 22,509 | 619 | |
(28,179) | (68,595) | ||
Profit / (Loss) from operations | (5,250) | 50,501 | |
Finance costs | (850) | (64) | |
Profit / (Loss) before tax | (6,101) | 50,437 | |
Income tax expense | (1,924) | (10,951) | |
Profit / (Loss) for the period after tax | (8,025) | 39,486 | |
Earnings/(Loss) per share - basic | (0.05) | 0.27 | |
Earnings/(Loss) per share - Diluted | (0.05) | 0.26 |
Chief Executive Officer Chief Financial Officer Director
OCTOPUS DIGITAL LIMITED
Particulars
Total
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE FIRST QUARTER ENDED MARCH 31, 2025
Capital Reserve | ||
Group Restructuring Reserve | Share Premium | |
Un-appropriated Profit / (Loss)
Share Compensation Reserve
Share Capital
---------------------------Rupees in '000---------------------------
Balance as on January 01, 2024 | 1,572,625 | 9,263,716 | (1,084,000) | 789,209 | 1,283,378 | 2,570,476 |
Net (loss)/profit for the year ended | 92,436 | 92,436 | ||||
Employee Share Compensation Reserve-ESOS Dividend Announced for the period | 28,217 | 28,217 | ||||
Balance as on December 31, 2024 | 1,572,625 | 37,480 | (1,084,000) | 789,209 | 1,375,814 | 2,691,129 |
Net (loss)/profit for the period bonus share issue for the period ended December 31, 2024 Employee Share Compensation Reserve-ESOS | (8,025) | (8,025) | ||||
Balance as on March 31, 2025 | 1,572,625 | 37,480 | (1,084,000) | 789,209 | 1,367,789 | 2,683,104 |
Chief Executive Officer Chief Financial Officer Director
OCTOPUS DIGITAL LIMITEDUNCONSOLIDATED STATEMENT OF CASH FLOWS (UN-AUDiTED)
FOR THE FIRST QUARTER ENDED MARCH 31, 2025
First Quarter Ended
Mar 31, 2025 Mar 31, 2024
CASH FLOW FROM OPERATING ACTIVITIES ( Rupees in '000)
Net profit before taxation (6,101) 50,437
4,985
101
9
-
-
3,163
101
(10,016)
850
(12,480)
Adjustment for:
Depreciation on property and equipment Amortization
Exchange gain - net Finance cost
Markup on loan to Avanceon Limited
(18,381) 5,096
Operating profit before working capital changes (24,482) 55,533
(4,788)
(307)
(14,050)
65,802
123,317
(34)
(3,416)
(76,556)
(Increase) / Decrease in current assets
Trade debts
Stock in trade
Contract assets
Advances and other receivables
Increase / (Decrease) in current liabilities
Contract liabilities
Creditors, accrued and other liabilities
Cash generated from / (used in) operations
Finance costs paid Income tax paid
NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment Short term Investment
Addition in intangible asset
NET CASH USED IN INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of diminishing mosharka
NET CASH GENERATED FROM FINANCING ACTIVITIES
NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD
43,311 46,657
474
4,826
2,406
36,521
5,300 38,927
24,129 141,116
(850)
(4,823)
-(1,432)
18,455 139,685
(1,825)
(10)
-
(1,399)
(5,445)
(50,810)
(1,834) (57,653)
(1,336)
-
(1,336) -
15,285 82,032
8,955 29,359
24,240 111,390
Chief Executive Officer Chief Financial Officer Director