TRG Pakistan bounces back with Rs4.32bn profit in H12025

February 28, 2025 (MLN): TRG Pakistan Limited (PSX: TRG) reported its financial results for the half-year ended December 31, 2024, posting a total comprehensive income of Rs4.32 billion compared to a loss of Rs11.47bn in the same period last year (SPLY).

According to the results, the company’s interest income dropped by 13.94% YoY to Rs1.14 milliom from Rs1.32m in SPLY.

Meanwhile, administrative and other expenses surged by 109.04% YoY to Rs282.44m.

The company’s operating loss also increased significantly by 110.25% YoY, amounting to Rs281.3m.

The major shift in the financials was due to OGDC’s share of profit in its equity-accounted investee, which stood at Rs5.41bn, a sharp turnaround from a loss of Rs12.31bn recorded in SPLY.

As a result, the company posted a profit before taxation of Rs5.13bn, compared to a loss of Rs12.45bn in the previous year, marking an improvement of 141.19%.

On the taxation front, OGDC recorded a tax expense of Rs812.36m against a tax benefit of Rs1.85bn in SPLY, reflecting a decline of 143.99%.

Consequently, the company posted a profit after tax of Rs4.31bn, reversing last year’s loss of Rs10.6bn, representing a 140.71% YoY improvement.

The effect of translation of net investment in a foreign associate, which previously recorded a loss of Rs875.57mn, turned positive at Rs9.62m in the latest period, further strengthening the financial position.

Earnings per share (EPS) improved to Rs7.91 from a loss per share of Rs19.43 in SPLY, demonstrating a strong recovery in OGDC’s financial performance.

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