Pulse Investments Limited (PULS)
Unaudited financials for the nine months ended March 31, 2025:
Pulse Investments Limited (PULS) for the nine months ended March 31, 2025, reported a 54% decrease in Operating revenue totaling $388.20 million compared to $845.45 million in the corresponding period last year. Operating revenue for the third quarter had a 59% decrease to close at $119.83 million compared to $293.23 million for the comparable quarter of 2024.
Administrative and other expenses amounted to $204.77 million (2024: $203.05 million), this represents an increase of 1% year over year. Consequently, operating profit decreased by 71% to $183.43 million compared to $642.40 million for the nine months ended March 31, 2024. The company booked operating profit of $53.09 million for the third quarter versus $227.54 million reported for the similar quarter of 2024.
Fair value appreciation on investment property decreased by 62% to close at $307.77 million (2024: $815.69 million), while Finance Cost decreased by 100% from $420,000 in 2024 to $0 in the period under review. Consequently, Pre-tax Profit for the nine months ended March 31, 2025, amounted to $491.20 million, a 66% decrease relative to $1.46 billion reported in 2024. Pre-tax Profit for the third quarter amounted to $155.68 million (2024: $499.43 million).
No taxes were reported. As such, Net Profit for the nine months amounted to $491.20 million, a 66% decrease from the $1.46 billion reported in 2024. For the third quarter, Net Profit was $155.68 million (2024: $499.43 million).
Consequently, Earnings Per Share for the nine months amounted to $0.08 (2024: EPS: $0.22), while Earnings Per Share for the quarter totaled $0.02 (2024: EPS: $0.08). The twelve-month trailing LPS was $0.06 and the number of shares used in these calculations was 6,522,952,176.
Notably, PULS’s stock price closed the trading period on May 15, 2025, at a price of $0.94.
Balance Sheet Highlights
The company’s assets totalled $12.27 billion (2024: $12.62 billion). The downturn in total assets was mainly driven by a 3% or $270.74 million decline in ‘Investment property’ to close the period at $8.51 billion (2024: $8.79 billion).
Shareholder’s equity was $9.75 billion (2024: $10.23 billion), representing a book value per share of $1.49 (2024: $1.57).
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