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TRG’s losses drop by 12% in 1HFY19

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February 20, 2019 (MLN): The Resource Group (TRG)’s losses for the period six months ended on December 2018 have declined by 12% and locked in at Rs 2.5 billion as compared to same period last year. This decline in losses were attributable to increase in topline earnings of about 43.5% and around 77% increase in other operating income.

During the period, considerable increase in finance expenses by 111.3% and higher income tax expenses of around Rs 235 million were observed, but due to impressive increase in revenues enabled the company to lessening its losses.

The loss per share (LPS) of the company for the said period was stated at Rs.0.65 per share.

Consolidated Profit and Loss Account for the Six month ended December 31, 2018 (Rupees in '000')

 

31-Dec-18

31-Dec-17

% change

Revenue

 33,781,144

 23,533,751

43.5

Other operating income

 313,325

 177,267

76.8

Payroll and related costs

 20,986,944

 17,146,107

22.4

Acquisition expenses

 2,863,017

 2,006,233

42.7

Depreciation, amortization and other non-cash costs

 1,335,383

 1,366,125

-2.3

Other operating costs

 8,200,151

 4,838,733

69.5

Profit/(loss) from operations

 708,974

 (1,646,180)

 

Finance expenses

 (1,811,039)

 (857,047)

111.3

Loss before taxation

 (1,102,065)

 (2,503,227)

-56.0

Income tax (expense) / income

 (235,389)

 (25,113)

837.3

Net loss for the period

 (1,337,454)

 (2,528,340)

-47.1

Foreign currency translation adjustment

 (1,203,446)

 (357,851)

236.3

Total comprehensive loss

 (2,540,900)

 (2,886,191)

-12.0

Basic and diluted loss per share

 0.65

 1.92

-66.1

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Posted on: 2019-02-26T12:19:00+05:00

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