Karachi, IGI Holdings Limited disclosed its financial results for the first quarter ended March 31, 2024, with no dividend or other shareholder entitlements declared. The announcement came after a Board of Directors meeting held on April 25, 2024, across Lahore and Karachi offices and via video-link.

The company's un-audited condensed interim unconsolidated statement of profit or loss showed a significant decline, posting a loss of Rs 58,619,000 for Q1 2024 compared to a profit of Rs 130,187,000 in the corresponding period last year. The earnings per share also dropped from Rs 0.91 in Q1 2023 to Rs -0.41 in the current quarter. The total income for the quarter stood at Rs 202,906,000 against expenses of Rs 261,148,000.

In contrast, the consolidated financials including subsidiary companies painted a better picture. The group reported an operating revenue of Rs 5,596,634,000, an increase from Rs 3,546,655,000 in Q1 2023. After accounting for expenses and other incomes, the profit after taxation amounted to Rs 451,865,000, up from Rs 424,427,000 in the previous year. The earnings per share for the consolidated entities was Rs 3.12, improving from Rs 2.90.

The complete quarterly report will be made available on the company’s website and transmitted through PUCARS in due time.