Karachi: TRG Pakistan Limited held a corporate briefing session on June 24, 2025, revealing a marked turnaround in its financial performance for the nine months of fiscal year 2025, as opposed to the last two fiscal years. The company reported an equity accounted profit of Rs. 5,259 million, contrasting sharply with losses of Rs. 35,907 million in FY 2024 and Rs. 1,350 million in FY 2023. The profit after taxation also saw a significant improvement, rising to Rs. 4,015 million from losses of Rs. 30,848 million and Rs. 1,336 million in the preceding fiscal years.
TRG Pakistan's earnings per share (EPS) followed a similar trajectory, recording a positive Rs. 7.36, a substantial recovery from a negative Rs. 56.56 in FY 2024 and Rs. 2.45 in FY 2023. The company's investment value in TRGI increased to Rs. 46,095 million, up from Rs. 40,544 million in FY 2024, though still below the Rs. 78,058 million in FY 2023. Net assets stood at Rs. 37,548 million, an improvement from Rs. 33,286 million in FY 2024, yet below the Rs. 65,499 million in FY 2023.
In an operational update, IBEX, a global provider of outsourced customer interaction solutions listed on NASDAQ since August 2020, reported a return to double-digit growth with an 11% year-on-year increase in topline for the third quarter of 2025. The first and second quarters saw respective year-on-year increases of 4% and 6%. The company's expansion of its embedded client base and strategic new wins, totaling 12 new contracts year-to-date, have driven this growth. IBEX is targeting FY 2025 revenues between $540 million and $545 million, a 7% increase compared to FY 2024, and EBITDA guidance of $68 million to $70 million, a 6% increase over the previous fiscal year.
According to information available from the Pakistan Stock Exchange (PSX), IBEX's share price has seen a very large or significant move, increasing approximately 75% during the last twelve months, recently surpassing the $30 mark. This performance is attributed to strategic investments in artificial intelligence capabilities and entry into new geographical and market segments.
Afiniti, another operational arm of TRG, completed its financial restructuring in December 2024. The company’s unsustainable debt load of approximately $500 million, incurred between 2019 and 2020, has been more than halved. Vista, a $100 billion software investor, converted around 50% of its debt into convertible preferred shares, with TRGI investing $15 million in the same as part of a rights issue connected to the restructuring. Afiniti's technology, now rebranded as eXperienceAI, focuses on predictive AI-driven behavioral pairing for enterprise clients and is undergoing significant investment in generative AI products.
The restructuring and strategic investments position TRG Pakistan Limited and its operational arms to leverage emerging opportunities in their respective industries, with a focus on AI-driven solutions and expanding global footprints.