Karachi January 31, 2022: TRG Pakistan will announce its December quarterly profit and company can report its biggest quarterly loss since IPO due to fall in share price of its investment in IBEX limited. TRG Pakistan is holding 5.4 million shares of IBEX limited and its share prices declined by 2 percent in this quarter.
It is worth mentioning to note that IBEX share price has declined by 24 Percent in second quarter due to its below expectations financial results and allegations against group founder. TRG Pakistan is recognizing change in IBEX Limited share price as a gain or loss in income statement and company can book loss of Rupees 3,900 million in this quarter. That will result in negative EPS of above Rupees 7 in this quarter.
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In its first quarter of this year IBEX Limited reported quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.
Over the last four quarters, the company has surpassed consensus EPS estimates three times. IBEX Limited, which belongs to the Zacks Business - Services industry, posted revenues of $108.57 million for the quarter ended September 2021, missing the Zacks Consensus Estimate by 3.88%. This compares to year-ago revenues of $108.77 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. IBEX Limited shares have lost about 29.1% since one year versus the S&P 500's gain of 14.0%.