Karachi: AKD Securities Limited has released its financial results for the quarter ended September 30, 2024, showing a significant improvement in profitability with notable gains in its investment portfolio. The board of directors, meeting at the company’s registered office in Karachi, confirmed that no new shareholder entitlements like cash dividends, bonus shares, or rights shares would be issued this quarter.

The standalone financial results reveal an operating revenue of 332.52 million rupees, bolstered by net gains on investments, which notably increased to 35.05 million rupees from last year's 136.94 million rupees. The company also recorded a robust rise in unrealized gains on the re-measurement of short-term investments, contributing 419.90 million rupees to the revenue.

According to information available from the Pakistan Stock Exchange (PSX), dividend income and mark-up/profit on bank deposits played a significant role, bringing in 1.80 million rupees and 237.82 million rupees, respectively. Administrative expenses were contained at 217.41 million rupees, and after accounting for other income and expenses, the company’s operating profit stood at 196.67 million rupees.

Finance costs have been a significant factor, amounting to 30.34 million rupees, but the overall profitability before taxes reached 808.15 million rupees, up from 460.45 million rupees in the previous year. After a net taxation of 240.09 million rupees, the profit for the period was 616.53 million rupees, a substantial increase from the previous year's 345.58 million rupees.

The consolidated financial results further emphasized this positive trend, with total revenue reaching 332.52 million rupees and a comprehensive income for the period of 617.02 million rupees. Earnings per share for the quarter improved to 1.11 rupees, up from 0.62 rupees the previous year, reflecting the company's robust performance across its investment portfolio.