TRG Pakistan turns to losses in 9MFY22

By MG News | April 28, 2022 at 11:21 AM GMT+05:00

0:00

April 28, 2021 (MLN): TRG Pakistan has reported a net loss of Rs3.97 billion (LPS: Rs19.05) in its financial results for the nine months ended on March 31, 2021, compared to the net profit of Rs5.13bn (EPS: Rs13.25) in the corresponding period last year ago.

Going by the financial statement, the company recognized interest income of Rs7.94 million, showing a decline of 93.25% YoY, whereas it incurred expenses of Rs37.8mn during 9MFY22. Resultantly, the company incurred an operating loss of Rs29.8mn as opposed to an operating profit of Rs90mn recorded in 9MFY21.

Notably, the positive highlight is that the company booked a gain of Rs8.86bn from dilution gain on equity-accounted investee and the deferred tax amounting to Rs1.8 billion came as a breather in the bottom line, however, these gains failed to counterbalance the loss incurred from equity accounted investee.

Meanwhile, TRG Pakistan witnessed a gain of Rs6.4bn on the effect of transaction impact of net investment in foreign associates.

Profit and Loss Account for the nine months ended on March 31st 2022 ('000 Rupees)
	22-Mar	21-Mar	% Change
Interest income	7,941	117,621	93.25%
Administrative and other expenses	(37,811)	(27,583)	37.08%
Operating (loss)/ profit	(29,870)	90,038	-
Share of (loss)/profit in equity accounted investee	(21,050,632)	8,413,307	-
Dilution gain on equity accounted investee	8,863,693	-	-
(Loss)/Profit before taxation	(12,216,809)	8,503,345	-
Taxation	1,828,041	(1,277,809)	-
(Loss)/Profit after taxation	(10,388,768)	7,225,536	-
Other comprehensive income			-
Items that may be reclassified to statement of profit or loss in subsequent periods	-		-
Effect of translation of net investment in foreign associate- net of tax	6,411,862	2,095,358	-
Total comprehensive (loss)/income	(3,976,906)	5,130,178	-
(Loss)/earnings per share -Basic and diluted loss	(19.05)	13.25	-

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%