Karachi: AKD Securities Limited announced a substantial increase in its profit for the half-year ended December 31, 2024, according to the financial results released by the company. The Board of Directors approved an interim cash dividend of Rs. 11 per share, equating to 10 percent, in a meeting held on February 24, 2025. The dividend will be distributed to shareholders listed in the Register of Members on March 6, 2025.

The company's operating revenue for the period reached 980.19 million rupees, a notable increase from 592.71 million rupees in the corresponding period of the previous year. This growth was primarily driven by a significant net gain on investments totaling 2.13 billion rupees, compared to 491.68 million rupees in the same period last year.

According to information available from the Pakistan Stock Exchange (PSX), the company's profit before tax for the half-year stood at 3.16 billion rupees, a substantial rise from 1.19 billion rupees recorded in the same period of 2023. The company also reported an increase in its earnings per share to 4.24 rupees, up from 1.62 rupees.

Operating and administrative expenses rose to 558.27 million rupees from 377.44 million rupees, reflecting the company's expanded operations. Finance costs decreased to 49.52 million rupees from 84.84 million rupees. The profit for the period amounted to 2.37 billion rupees, a significant increase from the 903.13 million rupees reported in the previous year.

AKD Securities Limited's total comprehensive income for the period was 2.39 billion rupees, compared to 898.36 million rupees in the same period last year. The balance sheet showed a robust position with a total equity of 11.75 billion rupees as of December 31, 2024.

The company's share transfer books will be closed from March 7, 2025, to March 10, 2025, for the purpose of the dividend entitlement. Transfers received at the company's share registrar by the close of business on March 6, 2025, will be considered timely.

The results highlight AKD Securities Limited's strong financial performance and strategic investment decisions, positioning the company for continued growth in the financial services sector.