TRG incurs loss of Rs11.47bn in 6MFY24

MG News | February 28, 2024 at 10:07 AM GMT+05:00

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February 28, 2024 (MLN): TRG Pakistan Limited (PSX: TRG) incurred a loss of Rs11.47 billion [LPS: Rs19.43] in 6MFY24 compared to a profit of Rs14.49bn [EPS: Rs16.79] in the same period last year.

TRG’s share of the net loss in equity accounted investee (i.e. TRGIL) was Rs12.311bn, before taxation in the review period compared to a profit of Rs10.85bn in the same period last year.

The company recognized interest income of Rs1.32 million in its income statement, whereas it incurred expenses of Rs135m in 6MFY24.

On the taxation front, the company recorded a tax reversal amounting to Rs1.84bn during the period.

Profit and loss account for the six months ended December 31, 2023 ('000 Rupees)
	Dec-23	Dec-22	% Change
Interest income	1,320	600	120.00
Administrative and other expenses	(135,112)	(66,068)	104.50
Operating (loss)/ profit	(133,792)	(65,468)	104.36
Share of (loss)/profit in equity accounted investee	(12,311,553)	10,850,972	-
(Loss)/Profit before taxation	(12,445,345)	10,785,504	-
Taxation	1,846,733	(1,627,646)	-213.46
(Loss)/Profit after taxation	(10,598,612)	9,157,858	-
Effect of translation of net investment in foreign associate- net of tax	(875,569)	5,336,884	-116.41
Total comprehensive (loss)/income	(11,474,181)	14,494,742	-
(Loss)/earnings per share -Basic and diluted loss	(19.43)	16.79	-

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