TPL Trakker revenue drops 43% in 2025

TPL Trakker Ltd, the Karachi-based telematics and Internet-of-Things (IoT) company, reported a sharp fall in turnover for the financial year ended June 30, 2025, as the exceptional lift from a major government contract ebbed and the group’s UAE arm stopped being consolidated.

On a consolidated basis, TPL Trakker posted turnover of Rs1.83 billion in FY2025, down from Rs3.21 billion a year earlier – a decline of about 43%. Cost of sales and services reduced alongside, yielding a gross profit of Rs703 million versus Rs1.41 billion in FY2024. The statement of profit or loss shows operating profit of Rs185 million, with finance costs of Rs343 million, and other income of Rs480 million. After taxes and discontinued operations, total comprehensive loss narrowed dramatically to Rs7.7 million, with profit attributable to owners of the holding company of Rs13.7 million and EPS of Rs0.07, compared with Rs0.03 last year.

Management had telegraphed the coming reset in its March-quarter directors’ report, noting that nine-month consolidated revenue had already fallen as a major Customs contract drew to a close and the Middle East arm moved out of line-by-line consolidation. The company wrote: “This decrease is primarily due to the conclusion of the Safe Transport Environment (STE) project with Pakistan Customs / Federal Board of Revenue (FBR), which ended December 31, 2024, as well as the elimination of Trakker Middle East’s revenue from the consolidation following the change in its classification from a subsidiary to an associated company.”