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TRG manages to shrink yearly losses by 18.7%

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October 24, 2019 (MLN): TRG Pakistan Limited (PSX: TRG)’s yearly losses amounted to Rs5.5 billion, down 18.7%, from Rs 6.7 billion and loss per share (LPS) at Rs2.69 against LPS at Rs5.38 in the corresponding period of 2018.

The company successfully managed to trim down its yearly losses mainly on the back of higher topline earnings, as its revenues increased significantly by 43% YoY from Rs 49 billion to Rs 70 billion.

In addition to this, the company also witnessed a considerable increase in its other operating income which further helped in shrinking company’s net losses.

However, since payroll and related costs jumped by 28.3%, acquisition expenses hiked by around 39%, AI and development costs mounted by 63.66% and other operating costs reported a rise of almost 24.25%, the optimistic contribution made by increased revenues was mitigated.

                                   

Consolidated Profit and Loss Account for the year ended June 30th 2019 ('000 Rupees)

 

Jun-19

Jun-18

% Change

Revenue

 70,260,264

 49,056,553

43.22%

Other operating income

 534,469

 217,297

145.96%

Payroll and related cost

 41,728,091

 32,509,447

28.36%

Al and development costs

 5,612,006

 3,428,966

63.66%

Acquisition expenses

 5,770,148

 4,150,509

39.02%

Depreciation, amortization and other non-cash costs

 5,518,854

 3,879,812

42.25%

Other operating costs

 12,516,308

 10,073,758

24.25%

Profit/(loss) from operations

 (350,674)

 (4,768,642)

-92.65%

 

Finance expenses

 (4,726,053)

 (1,975,882)

139.19%

Loss before taxation

 (5,076,727)

 (6,744,524)

-24.73%

Income tax (expenses)/income

 (427,049)

 (28,900)

1377.68%

 

Net loss for the period

 (5,503,776)

 (6,773,424)

-18.74%

Basic and diluted loss per share – Rupees

 (2.69)

 (5.38)

-50.00%

 

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Posted on: 2019-10-24T12:56:00+05:00

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