Karachi: AKD Securities Limited has reported a significant surge in its financial performance for the fiscal year ending June 2024, with total revenue increasing by 75% year-on-year, reaching 2,661.10 million Pakistani Rupees. This growth was primarily driven by a substantial rise in equity brokerage and advisory services.

According to information available from the Pakistan Stock Exchange (PSX), the brokerage-equity segment, a key contributor to AKD Securities' top-line, experienced a growth of 96%, accounting for 49% of the total business revenue. The advisory and underwriting commissions saw an increase of 215%, while non-equity brokerage activities grew by 84%.

The company's total business revenue climbed to 2,230.08 million Pakistani Rupees, marking an 81% growth from the previous fiscal year. This increase was bolstered by a 50% rise in exceptional realized and unrealized gains on short-term investments, contributing 431.02 million Pakistani Rupees to the revenue.

Despite a 25% increase in financial charges, AKD Securities managed to control its operating expenses, which saw a marginal increase of 3% to 927.08 million Pakistani Rupees. The firm attributed this cost management to strict monitoring and measures, alongside a 15% reduction in fixed human resource costs.

AKD Securities' profit before tax surged by 364%, reaching 1,665.77 million Pakistani Rupees, while profit after tax increased by 210% to 1,259.40 million Pakistani Rupees. Earnings per share rose from 0.78 to 2.26, reflecting a 190% growth.

The company also reported an 11% increase in its retail client base and a 7% increase in institutional clients, attributing the growth to conscious efforts in expanding its market reach and service offerings.