TRG Pakistan posts a loss of 12.6 billion rupees
KARACHI: TRG Pakistan Ltd posted a loss of 12.6 billion rupees for October-December against a net profit of 3.6 billion rupees a year ago, a stock market filing showed on Tuesday.
According to AKD Securities, the significant loss was mainly due to a net loss on investment in TRGIL, an associated company, amounting to Rs14.8 billion.
“This was due to (the) marketing of the investment in IBEX after its share price fell 34% in October-December resulting in a loss of Rs 6.8 billion,” he said. -he declares.
An additional loss came from the redemption of certain preferred shares that were initially classified as debts to their holders, the brokerage added.
Unity Foods profits up
Unity Foods Ltd reported a non-consolidated profit of 1.1 billion rupees for October-December, up 20% from a year ago.
A stock market notice released by the company on Tuesday said revenue rose 17% to 20 billion rupees. This was led by a significant increase in the edible oils segment in which a major contribution came from the palm oil category followed by sweet oil (seed crushing oil), said a note from Topline Securities. .
The gross margin stood at 11% against 9% a year ago. “The main reason for the higher margins is inventory gains, as the company’s oil purchase price was quite low,” the brokerage said.
BankIslami’s profit increases by 25%
BankIslami Pakistan Ltd said on Tuesday that its profit for 2021 remained at 2.1 billion rupees, up 25.1% from 2020.
A press release said the bank’s deposit base grew by 21%. With an improvement in its deposit base, the bank’s earning assets also showed healthy growth whereby funded exposure was increased through funding of the corporate and consumer segments and growth of the investment portfolio .
Islamic financing increased by 39.2 pc while investments recorded a growth of 31.1 pc.
Posted in Dawn, March 2, 2022