First Capital Equities Reports Mixed Financial Performance for Q1 2024

Business & Finance

Lahore, First Capital Equities Limited, a notable player in the investment sector, has disclosed its financial outcomes for the nine months and quarter ending March 31, 2024. The board convened on April 29, 2024, in Lahore to discuss these results.

For the quarter ending March 31, 2024, the company reported a profit after taxation of Rs. 6,461,355, a significant turnaround from the loss of Rs. 10,790,624 recorded during the same period in the previous year. This improvement was primarily attributed to gains in unrealized gains on remeasurement of investments, which stood at Rs. 7,652,825, contrasting with a loss of Rs. 9,176,872 in the previous year.

Operational and administrative expenses for the quarter were recorded at Rs. 162,704, significantly lower than the Rs. 698,002 reported in the previous year. The finance cost for the quarter was minimally stated at Rs. 651.

Despite these gains, the company did not declare any dividends, bonus shares, or rights issues for the period. The financial statements have been submitted to the Pakistan Stock Exchange and are available on the company's website.