TRG earnings hold steady in 1HFY26

February 27, 2026 (MLN): TRG Pakistan Limited (PSX:TRG) reported a net profit of Rs4.25bn for the half year ended December 31, 2025, a slight 2% decline from the Rs4.31bn profit recorded in the same period last year.

The company's earnings per share (EPS) edged down to Rs7.79 from Rs7.91 in the corresponding period of the previous year.

The company reported interest income of Rs732,000, which was down 36% from Rs1.14m in the prior period.

Administrative and other expenses decreased 3% to Rs272.89m from Rs282.44m. Due to this slight reduction in overhead costs, the company’s core operating loss narrowed by 3% to Rs272.16m, compared to an operating loss of Rs281.30m in H1 FY2025.

The absolute driver of TRG Pakistan's profitability is its share of profit from its equity-accounted investee.

This massive profit pool saw a minor 2% contraction, bringing in Rs5.32bn compared to Rs5.41bn in the previous year.

Driven almost entirely by this investee income, profit before taxation reached Rs5.04bn, down 2% from Rs5.13bn in the prior period.

The company recorded a taxation expense of Rs797.40m, which was also 2% lower than the Rs812.36m tax charge in the corresponding period last year.

Ultimately, TRG's bottom-line health remains highly robust, and the slight 2% dip in net profitability was a direct reflection of the marginally lower share of profit flowing in from its core investee operations.

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