Karachi: First Tri-Star Modaraba has disclosed its financial results for the fiscal year ended June 30, 2024, showing a significant increase in profit compared to the previous year.

The company reported a revenue of Rs. 351.02 million for 2024, up from Rs. 359.81 million in 2023. However, a stark contrast was seen in the profit figures, with this year's profit before taxation recorded at Rs. 42.60 million, markedly up from last year's Rs. 34.83 million. This notable increase in profitability is attributed to various operational improvements and cost management strategies over the period.

According to information available from the Pakistan Stock Exchange (PSX), First Tri-Star Modaraba successfully managed its administrative expenses and other charges while enhancing its other income streams, leading to the improved bottom line. Administrative expenses were reported at Rs. 33.07 million, down from Rs. 1.75 million the previous year, showcasing stringent cost control measures.

The Modaraba also declared other comprehensive income from investments, which saw a surplus revaluation of Rs. 38.42 million, significantly contributing to its financial standing, contrasting with last year's Rs. 356.42 million. This income is critical as it reflects the company's strategic investments yielding positive returns.

The earnings per certificate showed an impressive increase, with the basic and diluted earnings rising from Rs. 0.08 last year to Rs. 6.74 this year, indicating a substantial return to its certificate holders.