Karachi: The Board of Directors of Intermarket Securities Limited convened on March 25, 2025, to review and approve the audited financial statements for the fiscal year ending December 31, 2024. In a meeting held in Karachi, the board announced that no cash dividend, bonus shares, right shares, or other entitlements would be distributed to stakeholders. The company also reported no price-sensitive information during this period.
The company’s financial position, as outlined in the report, shows total assets amounting to 3.97 billion rupees, a significant increase from the previous year’s total of 2.14 billion rupees. The current assets include short-term investments valued at 280.37 million rupees and trade debts totaling 735.04 million rupees. The company’s cash and bank balances stood at 244.15 million rupees as of December 31, 2024.
According to information available from the Pakistan Stock Exchange (PSX), Intermarket Securities Limited’s issued, subscribed, and paid-up capital increased to 1.29 billion rupees from the previous year’s 1.09 billion rupees. The revenue reserve, represented by unappropriated profit, also saw a rise to 943.68 million rupees from 461.43 million rupees in the prior year.
The financial statements revealed a profit before levies and taxation of 544.79 million rupees, up from 224.79 million rupees in 2023. The adjustments for changes in unrealized gains on short-term investments and capital gains on the sale of short-term investments were noted, reflecting the company’s asset management strategies.
The Annual General Meeting is scheduled for April 28, 2025, at the ICAP Auditorium in Karachi. The company has announced that the share transfer books will remain closed from April 21 to April 28, 2025, during which no share transfers will be registered. Transfers submitted by the close of business on April 18, 2025, will qualify for participation in the meeting.
Intermarket Securities Limited has also communicated that its annual report for the year ending June 30, 2024, will be available on its website and transmitted through PUCARS at least 21 days prior to the Annual General Meeting. This strategic dissemination is in line with regulatory requirements and ensures transparency with stakeholders.
The company’s cash flow from operating activities was recorded at 465.50 million rupees, a reversal from the negative cash flow of 110.76 million rupees in the previous year. However, investing and financing activities reflected net cash outflows, resulting in a decrease in cash and cash equivalents by the end of 2024.
As Intermarket Securities Limited navigates through the fiscal landscape, the company aims to maintain financial stability and transparency, as evidenced by its comprehensive financial disclosures and adherence to market regulations.