Karachi April 30 2024: TRG Pakistan reported loss of PKR 6.8 billion for the quarter ended March 2024 due to loss in equity accounted investee, according to company filing to the exchange.
The share price of the company dropped by PKR 1.42 or 2.06% in today’s trading at the Pakistan Stock Exchange. The stock price is down 38.42% since the start of this year.
TRG reported a loss of PKR 7.1 billion in equity accounted investees, compared to PKR 4.0 billion booked last year. The company also reported a loss of PKR 704 million from the effect of translation of net investment in foreign associates, compared to a profit of PKR 14.7 billion in the same quarter last year
TRG Pakistan Limited was incorporated in Pakistan as a public limited company on December 2, 2002 under the repealed Companies Ordinance, 1984. On May 14, 2003 the Company obtained a license from the Securities and Exchange Commission of Pakistan (“SECP”) to undertake venture capital investment as a Non-Banking Finance Company in accordance with the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules). The principal activity of the Company, through its associate, The Resource Group International Limited (TRGIL) is to invest in a portfolio of investments primarily in the Technology, IT enabled services and medicare insurance sectors.
