TRG rebounds with profit over Rs4bn
MG News | April 30, 2025 at 09:43 AM GMT+05:00
April 30, 2025 (MLN): TRG Pakistan Limited (PSX: TRG) released its financial results for the nine-month period ended March 31, 2025, recording a total comprehensive income of Rs4.26 billion, a significant turnaround from a loss of Rs18.31bn in the same period last year (SPLY).
According to the financials, the company’s interest income declined by 7.93% YoY to Rs1.69 million from Rs1.84m in SPLY.
Meanwhile, administrative and other expenses more than doubled, rising by 129.58% YoY to Rs456.43 million, compared to Rs198.81m in the same period last year.
As a result, the company’s operating loss widened sharply by 130.87% YoY, amounting to Rs454.74m versus Rs196.97m in SPLY.
The key driver behind the improved bottom line was TRG’s share of profit in its equity-accounted investee, which surged to Rs5.26 billion, a stark reversal from a loss of Rs19.45bn in the prior period.
Consequently, the company reported a profit before taxation of Rs4.8bn, compared to a loss of Rs19.65bn in SPLY a notable YoY improvement of 124.46%.
On the taxation front, TRG recorded a tax expense of Rs790.07m against a tax benefit of Rs2.92bn in the previous year, reflecting a 127.08% decline.
This resulted in a profit after tax of Rs4.01bn, rebounding from a loss of Rs16.73bn in the same period last year, marking a 124% YoY improvement.
The effect of translation of net investment in a foreign associate also contributed positively, showing a gain of Rs247.62m versus a loss of Rs1.58bn in SPLY.
Earnings per share (EPS) rose to Rs7.36 from a loss per share of Rs30.67 in the prior year, underlining a substantial recovery in TRG’s financial performance.
| Financial Results for the Nine Month Ended March 31, 2025 (Rupees '000) | |||
| Note | Mar-25 | Mar-24 | %Change |
| Interest Income | 1,694 | 1,840 | -7.93% |
| Administrative and other expenses | (456,429) | (198,807) | 129.58% |
| Operating loss | (454,735) | (196,967) | 130.87% |
| Share of profit / (loss) in equity accounted investee | 5,259,468 | (19,448,192) | |
| Profit / (Loss) before taxation | 4,804,733 | (19,645,159) | |
| Taxation | (790,073) | 2,917,229 | |
| Profit / (Loss) after taxation | 4,014,660 | (16,727,930) | |
| Other comprehensive income | |||
| Effect of translation of net investment in foreign associate - net of tax | 247,615 | (1,580,098) | |
| Total comprehensive income / (loss) | 4,262,275 | (18,308,028) | |
| Earnings / (Loss) per share - basic and diluted | 7.36 | (30.67) | |
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