Karachi October 29 2021: TRG Pakistan Limited share price drop PKR 5.22 or 4.12 percent in today trading session at PSX to close first session at PKR 121.6 per share on 97 percent decline in profitability.
The Company recognized interest income of Rupees 3.8 million in its income statement, whereas it incurred expenses of Rupees 9.9 million. The share of profit from associates was PKR 44.3 million. Deferred tax expense amounting to Rupees 6.6 million was incurred during the period. As a result, the Company posted net profit of Rupees 31.6 million for the period ended September 30, 2020.
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The earning per share of the Company was Rupees 0.058 per share compared to Rupees 1.5 during the same quarter last year.
The value of the Company’s share in TRGI as of September 30, 2021 is Rupees. 54.0 billion. This value was Rupees. 49.6 billion on June 30, 2021. This represents an increase of Rupees 4.4 billion during the period and an overall increase that is nearly fifteen times the value of its original investment. In addition to the Company’s stake in TRGI, it also has other assets of Rupees 0.27 billion and liabilities of Rupees 9.0 billion resulting in net assets of Rupees 45.2 billion.
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This was a strong quarter for TRG International (TRGI) and its portfolio companies. We successfully completed the sale of our eTelequote business in July. Our portfolio company, IBEX has been investing in additional capacity in preparation for increased volumes expected in the second half of the fiscal year. We anticipate its sales mix to further improve, with growth in more profitable business and pivot from legacy low margin accounts towards higher growth clients dominated by the emerging technology sector. Our enterprise software portfolio company continues to deliver topline growth, and with a robust revenue pipeline, we expect additional enterprise clients to come online before the end of the fiscal year.
