1
Table of Contents
Corporate Profile | |
Company Information | 02 |
Interim Director's Report | 04 |
Unconsolidated Financial Statements | |
Condensed Interim Statement of Financial Position | 06 |
Condensed Interim Statement of Profit and Loss | 08 |
Condensed Interim Statement of Comprehensive Income | 09 |
Condensed Interim Statement of Changes in Equity | 10 |
Condensed Interim Statement of Cash Flows | 11 |
Notes to the Condensed Interim Financial Statements | 12 |
2
Financial Statements 2023
Company Information
Directors
Bakhtiar Hameed Wain | Director / Chairman |
Tanveer Karamat | Director / Chief Executive Officer |
Asmar Ahmed Atif | Director |
Mohammad Shahid Mir | Director |
Mohammad Arif Janjua | Director |
Adeel Khalid | Director |
Saleha Asif | Director |
Saeed Ullah Khan Niazi | Chief Financial Officer |
Ahsan Khalil (ACA-FPFA) | Company Secretary |
Audit Committee | |
Mohammad Shahid Mir | Chairman |
Bakhtiar Hameed Wain | Member |
Mohammad Arif Janjua | Member |
Human Resource &
Remuneration Committee
Mohammad Shahid Mir | Chairman |
Bakhtiar Hameed Wain | Member |
Tanveer Karamat | Member |
Auditors
BDO Ebrahim & Co.
Chartered Accountants
for the first quarter ended March 31, 2023
Bankers
Faysal Bank Limited, Pakistan
JS Bank Limited, Pakistan
MCB Islamic Bank, Pakistan
Dubai Islamic Bank, Pakistan
Share Registrar
FAMCO Associates (Pvt) Ltd.
8-F, Next to Hotel Faran, Nursery, Block-6, P.E.C.H.S,
Shahra-e-Faisal, Karachi.
Phone: +92 (21) 3438 0101-5
Fax No: +92 (21) 3438 0106
www.famco.com.pk
Registered Office
The Avanceon Building
19-KM , Main Multan Road,
Lahore 54660, Punjab, Pakistan
Phone: +92 (42) 111 940 940
Fax No: +92 (42) 375 151 28
Email: support@octopusdtl.com
Legal Advisor
Cheema & Ibrahim
Web Presence
www.octopusdtl.com | www.avanceon.ae www.avanceon.qa
Phone: +92 | (42) | 111 940 940 |
Fax: +92 | (42) | 375 151 28 |
Email:support@octopusdtl.com
Headquarters
Lahore, Punjab, Pakistan
The Avanceon Building
19-KM, Main Multan Road, Lahore,
54660 Punjab, Pakistan
Phone: +92 (42) 111 940 940
Email: support@Octopusdtl.com
Regional Headquarters
Karachi, Sindh, Pakistan
MA Tabba Foundation Building,
First Floor, Gizri Road Block 9,
Clifton Karachi, Sindh 75600
Phone: +92 (21) 111 940 940
Email: support@Octopusdtl.com
Trade Mark
3
Regional Headquarters -
Middle East
Avanceon FZE - Dubai, UAE
FZS1 BD04 JAFZA P.O. Box 18590
Dubai, United Arab Emirates
Phone: +971 4 88 60 277
Abu Dhabi, UAE
In Partnership with Ali & Sons
Ali &Sons Bldg., Zayed 2nd Street
P.O. Box 915
Abu Dhabi, U.A.E.
Phone: +971 4 88 60 277
Doha, Qatar
Avanceon Automation Control WLL
Office No. 12, M Floor, Al-Jaber Engg.
HO Building, P.O. Box 15976, Fox Hills,
Lusail, Doha, Qatar.
Phone: +974 4040 9835
Avanceon QFZCO LLC
PA-WH-04, Unit 16
Ras Bufontas Free Zone
Doha Qatar
Phone: +974 4040 9835
Email: support@avanceon.qa Avanceon Saudi Energy Company 3141 Anas Ibn Malik-Al Malqa Dist. Unit no. 718, Riyadh 13521 - 8292 Kingdom of Saudi Arabia
Phone: +966 5674 16724
Email: support.mea@avanceon.ae
4
Financial Statements 2023
for the first quarter ended March 31, 2023
Interim Director's Report
Directors of Octopus Digital Limited (the "Company") are pleased to present the Directors' Report for the three months ended March 31, 2023
For the first quarter ended | ||
(Rupees in '000) | March 31, | March 31, |
2023 | 2022 | |
Operating results | ||
Revenues | 94,446 | 159,321 |
Profit before tax | 262,428 | 111,955 |
Provision for taxation | (19,213) | (7,132) |
Profit after taxation | 243,215 | 104,823 |
Earnings per share (standalone) for the three months ended march 31, 2023
The basic earnings per share after tax is Rs. 1.78 (2022: Rs. 0.77)
During the 1st Quarter 2023 the revenue remained comparatively low due to the fact of our After Market Support product business in Pakistan mainly because of non-opening of L/Cs which is in continuance since 2022. Moreover, the Subscription digital business USD denominated costs overshot due to PKR parity to USD constantly on the down road of devaluation.
However, it is being reported that our digitalization business is on the flight to achieve high goals worldwide in Middle East, USA, and other parts of the world.
Management is confident to achieve the targeted corporate plan for revenues and net profit after tax for the financial year 2023 as disclosed in corporate analyst briefing in May 2023.
Communication
On behalf of the Board, the Company would like to thank all stakeholders for their continued trust and support. For assistance on information The Company's website, www.octopusdtl.com, contains up to date information on Company's activities and financial reports.
For and on behalf of the
BOARD OF DIRECTORS
May 30, 2023 | Tanveer Karamat |
Lahore, Pakistan. | Chief Executive Officer |
Asmar Ahmed Atif
Director
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Octopus Digital Ltd. published this content on 09 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2023 11:32:08 UTC.