Octopus Digital : Transmission of Quarterly Report for the Period Ended 31 March 2023

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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

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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: [phone]

Fax No: [phone]

www.famco.com.pk

Registered Office

The Avanceon Building

19-KM , Main Multan Road,

Lahore 54660, Punjab, Pakistan

Phone: [phone]

Fax No: [phone]

Email: [e-mail]

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:[e-mail]

Headquarters

Lahore, Punjab, Pakistan

The Avanceon Building

19-KM, Main Multan Road, Lahore,

54660 Punjab, Pakistan

Phone: [phone]

Email: [e-mail]

Regional Headquarters

Karachi, Sindh, Pakistan

MA Tabba Foundation Building,

First Floor, Gizri Road Block 9,

Clifton Karachi, Sindh 75600

Phone: [phone]

Email: [e-mail]

Trade Mark

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Regional Headquarters -

Middle East

Avanceon FZE - Dubai, UAE

FZS1 BD04 JAFZA P.O. Box 18590

Dubai, United Arab Emirates

Phone: [phone]

Abu Dhabi, UAE

In Partnership with Ali & Sons

Ali &Sons Bldg., Zayed 2nd Street

P.O. Box 915

Abu Dhabi, U.A.E.

Phone: [phone]

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: [phone]

Avanceon QFZCO LLC

PA-WH-04, Unit 16

Ras Bufontas Free Zone

Doha Qatar

Phone: [phone]

Email: [e-mail] Avanceon Saudi Energy Company 3141 Anas Ibn Malik-Al Malqa Dist. Unit no. 718, Riyadh 13521 - 8292 Kingdom of Saudi Arabia

Phone: [phone]

Email: [e-mail]

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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