Karachi: Crescent Star Insurance Ltd. has reported a decline in overall profitability for the first quarter ending March 31, 2025, largely due to the suspension of Afghan transit trade operations that significantly contributed to the company's revenue in previous periods. The net premium for the quarter was recorded at Rs. 31.272 million, a substantial decrease from the Rs. 81.912 million reported during the same period last year. The Earnings per Share (EPS) for this period stood at Rs. 0.12.

The company's leadership, in a report presented on behalf of the Board of Directors, indicated that this downturn reflects reduced business activity stemming from the halted trade operations. In response to the challenges faced, Crescent Star Insurance is looking to the future with plans to expand its core business and target the growing individual client market.

According to information available from the Pakistan Stock Exchange (PSX), the company is also positioning itself to capitalize on investment opportunities. This strategic move is contingent upon the anticipated merger of its subsidiary, Crescent Star Foods (CSF), with and into Pakistan Industrial Credit and Investment Corporation (PICIC). This merger is currently awaiting approval from the Honorable Sindh High Court. Once approved, the merger is expected to enhance the company's investment portfolio, potentially improving earnings.

The Board of Directors expressed gratitude to various regulatory and financial bodies, including the Securities and Exchange Commission of Pakistan, Pakistan Stock Exchange, Insurance Association of Pakistan, State Bank of Pakistan, and other stakeholders for their ongoing support and cooperation as the company navigates its current challenges in the market.