TRG's losses drop by over 50% marking considerable improvement YoY
MG News | October 30, 2018 at 09:55 AM GMT+05:00
October 30, 2018 (MLN): The Resource Group (TRG) Pakistan has reported its consolidated losses at almost Rs.789 million (-51% or Rs.835 million) during the first quarter ended September 30, 2018. Meanwhile EPS stands at Rs.0.63 per share (-51.54%).
The company’s financial earnings report shows that TRG earned almost 39% higher revenue, on a year-on year basis (nearly 15 billion).
However, since the net expenses grew substantially, TRG’s profit from operations came down to Rs.16 million, which still marked an improvement over last year’s quarter, where the company made losses from operations.
To top it off, TRG’s finance expenses grew by 80%, turnings its operational profits to overall losses.
| Consolidated Profit and Loss Account for the quarter ended September 30th 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Revenue | 14,972,312 | 10,799,938 | 38.63% |
| Other operating income | 159,482 | 60,061 | 165.53% |
| Payroll and related cost | 9,632,698 | 8,178,985 | 17.77% |
| Acquisition expenses | 1,378,242 | 941,427 | 46.40% |
| Depreciation, amortization and other non-cash costs | 398,883 | 669,667 | -40.44% |
| Other operating costs | 3,705,822 | 2,430,081 | 52.50% |
| Profit/(loss) from operations | 16,149 | (1,360,161) |
|
| Finance expenses | (750,938) | (416,824) | 80.16% |
| Loss before taxation | (734,789) | (1,776,985) | -58.65% |
| Income tax (expenses)/income | (54,137) | 153,189 |
|
| Net loss for the period | (788,926) | (1,623,796) | -51.41% |
| Basic and diluted loss per share - Rupees | 0.63 | 1.30 | -51.54% |
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