TRG Pakistan takes a tumble in 9MFY26

April 29, 2026 (MLN):  TRG Pakistan Limited (PSX: TRG) reported a severe financial downturn for the nine months ended March 31, 2026, swinging from a net profit of Rs4.01bn in the previous year to a colossal net loss of Rs4.72bn.

Reflecting this massive bottom-line collapse, the company's earnings per share (EPS) turned sharply negative, recording a loss per share of Rs8.65 compared to an EPS of Rs7.36 in 9MFY25.

TRG's standalone operational revenue is typically nominal.

Interest income for the period fell by 56% to just Rs739,000 from Rs1.69m.

The company did successfully curtail its administrative and other expenses by 24%, dropping them to Rs348.16m from Rs456.43m in the prior year.

This cost reduction helped narrow the standalone operating loss by 24%, bringing it down to Rs347.42m.

However, the catastrophic blow to the company's financials came entirely from its core investment portfolio.

TRG's share of loss in its equity-accounted investee plummeted to a staggering Rs5.14bn.

This was a complete and severe reversal from the massive Rs5.26bn profit the company enjoyed from its associate in the same period last year.

Crushed under the weight of this massive associate loss, TRG recorded a loss before taxation of Rs5.49bn, completely erasing the Rs4.80bn pre-tax profit from 9MFY25.

The company did record a substantial tax credit/reversal of Rs771.29m (a stark contrast to the Rs790.07m tax expense booked last year).

While this tax relief provided a buffer, it was entirely insufficient to rescue the financials from the enormous associate drag, leaving the company to close the nine-month period deep in the red with a final net loss of Rs4.72bn.

Copyright Mettis Link News