TRG’s losses drop by over 50% marking considerable improvement YoY

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%

 

Copyright Mettis Link News

Posted on: 2018-10-30T09:55:00+05:00

23966