Karachi: TRG Pakistan Limited has released its financial results for the quarter ended September 30, 2023, as decided in the Board of Directors meeting conducted via video link on October 27, 2023. The Board has recommended no cash dividends, bonus shares, rights shares, any other entitlements/corporate actions, or any other price-sensitive information for this quarter.
In the provided Condensed Interim Statement of Profit or Loss and Other Comprehensive Income (Un-audited), TRG Pakistan Limited showcased its financial performance for the three months ending September 30, 2023. The company recorded an interest income of Rs. 3,751,000, while administrative and other expenses stood at Rs. 19,759,000. This resulted in an operating loss of Rs. 88,344,000 for the quarter, which is a significant decline compared to the operating loss of Rs. 19,384,000 recorded in the same period the previous year.
TRG Pakistan Limited experienced a substantial share of loss in equity accounted investee, reporting a loss of Rs. 10,591,845,000 as opposed to a profit of Rs. 6,905,253,000 in the same quarter of 2022. Consequently, the loss before taxation surged to Rs. 10,680,189,000, contrasting sharply with a profit before taxation of Rs. 6,885,869,000 in the prior year.
Taxation for the quarter provided some relief at Rs. 1,588,777,000, leading to a net loss after taxation of Rs. 9,091,412,000. This is a significant downturn from the net profit after taxation of Rs. 5,850,081,000 in September 2022.
The company's other comprehensive income reflected an effect of translation of net investment in foreign associate (net of tax), totaling Rs. 552,574,000. This contributed to a total comprehensive loss of Rs. 8,538,838,000 for the quarter, whereas the company had reported a total comprehensive income of Rs. 11,534,104,000 in the same period last year.
The earnings per share (basic and diluted) for the quarter were recorded at a loss of Rs. 15.656, a stark contrast to earnings of Rs. 10.726 per share in September 2022.
The Quarterly Report of the Company will be disseminated through PUCARS.