April 28, 2023 (MLN): TRG Pakistan Limited (PSX: TRG) on Friday unveiled its nine-month results ended on March 31, 2023, whereby the company has posted a net profit of Rs5.69 billion [EPS: Rs10.45] against a net loss of Rs10.38bn [LPS: Rs19.05], the company’s filling on PSX showed.
This was mainly due to the changes in the value of their share in its associate, The Resource Group International Limited (TRGIL), which stood at Rs6.84bn in 9MFY23 mainly on account of mark-to-market gain booked on IBEX shares.
Despite the macroeconomic headwinds, TRG’s portfolio company, IBEX maintained its strong performance and continued focus on operational efficiencies, margin enhancement, and revenue growth.
Going by the financial statement, the company paid Rs1.02bn in taxes in 9MFY23 as compared to a tax credit of Rs1.82bn in the same period last year (SPLY).
Meanwhile, TRG Pakistan witnessed a staggering gain of Rs20.01bn in 9MFY23, up by 3.12x on the effect of transaction impact of net investment in foreign associates, as compared to just Rs6.41bn in SPLY.
|
Profit and Loss Account for the nine months ended March 31, 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Mar-23 |
Mar-22 |
% Change |
|
Interest income |
680 |
7,941 |
-91.44% |
|
Administrative and other expenses |
(117,651) |
(37,811) |
211.16% |
|
Operating (loss)/ profit |
(116,971) |
(29,870) |
291.60% |
|
Share of (loss)/profit in equity accounted investee |
6,843,362 |
(21,050,632) |
– |
|
Dilution gain on equity accounted investee |
– |
8,863,693 |
– |
|
(Loss)/Profit before taxation |
6,726,391 |
(12,216,809) |
– |
|
Taxation |
(1,026,504) |
1,828,041 |
– |
|
(Loss)/Profit after taxation |
5,699,887 |
(10,388,768) |
– |
|
Other comprehensive income |
|
|
|
|
Items that may be reclassified to statements of profit or loss in subsequent periods |
|
|
|
|
Effect of translation of net investment in foreign associate- net of tax |
20,017,119 |
6,411,862 |
212.19% |
|
Total comprehensive (loss)/income |
25,717,006 |
(3,976,906) |
– |
|
(Loss)/earnings per share -Basic and diluted loss |
10.45 |
(19.05) |
– |
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Posted on: 2023-04-28T10:27:01+05:00
