KARACHI:Â TRG Pakistan Limited has announced an explosive start to its financial year 2026, reporting a profit after taxation of Rs. 6.87 billion for the quarter ended September 30, 2025. This represents a staggering 185% increase compared to the Rs. 2.41 billion profit recorded in the same quarter last year, underscoring the company’s heavy reliance on its strategic international investments.
The massive surge in profitability is directly attributable to the company’s share of profit from an equity-accounted investee, which skyrocketed to Rs. 8.30 billion for the quarter. This performance dramatically boosted earnings per share (EPS) to Rs. 12.59, up from Rs. 4.41 in the prior year period.
This windfall has significantly strengthened the company’s balance sheet. Total equity climbed to Rs. 44.45 billion as of September 30, 2025, a substantial increase from Rs. 37.93 billion just three months prior. The growth was primarily fueled by a rise in unappropriated profit. It is important to note that the company recorded an other comprehensive loss of Rs. 356 million due to the translation of its net investment in the foreign associate, a non-cash accounting adjustment reflecting currency movements.
Despite the blockbuster profitability, TRG Pakistan’s core operating activities remained minimal, reporting an operating loss of Rs 191 million, higher than last years’ Rs 132 million. For investors, the results cement TRG Pakistan’s identity as a holding company whose value is predominantly derived from its stake in a high-performing foreign entity, with quarterly results subject to the performance and currency translation of that investment.
Following the announcement, the TRG stock price dropped by almost 1% mimicking a larger market trend as the PSX also dropped 1.1% during the day’s trade.
