Karachi October 30 2023: TRG Pakistan reported loss of PKR 9.1 billion as company booked PKR 10.6 billion loss from associates due to share of loss from investments during first quarter of current fiscal year, according to company filing to the exchange.
This is the second highest quarterly loss reported by the company in its financial history.
TRG Pakistan Limited was incorporated in Pakistan as a public limited company on December 2, 2002 under the repealed Companies Ordinance, 1984.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.