TRG Pakistan posts Rs30.85bn loss

MG News | October 01, 2024 at 09:34 AM GMT+05:00

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October 01, 2024 (MLN): TRG Pakistan Limited (PSX: TRG) incurred a loss after tax of Rs30.85 billion in the financial year 2024, translating into loss per share (EPS) of Rs56.56.

That compares to a net loss of Rs1.34bn recorded in FY23.

The income statement was primarily driven by the changes in value of its share in TRGIL.

TRG's share of loss in its equity accounted investee, TRGIL, was Rs35.91bn for the year ending June 2024, likely due to a decrease in the public share price of Ibex during the period.

After accounting for Items that may be reclassified to statement of profit or loss in subsequent periods, the total comprehensive loss for FY24 stood at Rs32.21bn compared to a profit of Rs17.95bn last year.

"In light of the earlier order passed by the Honourable High Court of Sindh restraining the company from holding the AGM till further orders, the said order continues to remain in force and as such the company is unable to hold its AGM till such time the High Court of Sindh allows the company to do so," it said in a stock filing on Tuesday.

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