Karachi: Invest Capital Investment Bank Limited has reported a net profit of Rs. 33.84 million for the first quarter of the financial year 2024-25, reflecting an increase from Rs. 25.11 million during the same period in the previous year. The company's earnings per share amounted to Rs. 0.119, up from Rs. 0.088 in the first quarter of the previous fiscal year.

Gross revenue for the period, including other income, reached Rs. 41.36 million, compared to Rs. 34.72 million in the corresponding period of last year. According to information available from the Pakistan Stock Exchange (PSX), the revenue increase is primarily attributed to a rise in income from investments. Administrative and operating expenses for the quarter totaled Rs. 8.10 million, lower than the Rs. 8.98 million incurred in the same period last year.

The company's financial charges were reduced to only bank charges, as no borrowings were outstanding during the quarter. Additionally, the company's total assets grew by Rs. 93.55 million, bringing the total to Rs. 1,392.13 million as of September 30, 2024, compared to Rs. 1,298.59 million as of June 30, 2024. Total liabilities rose to Rs. 657.79 million, up from Rs. 598.09 million at the end of June.

The company invested Rs. 148.50 million in new financing businesses, including leases and loans, during the first quarter. An additional Rs. 18.79 million was invested in Treasury Bills. The company achieved nearly 100% recovery on its financing business, attributed to effective risk management and monitoring measures. The investment in Treasury Bills offered a return of approximately 22% per annum.

Despite potential risks posed by political uncertainties, global economic challenges, and supply chain disruptions, the management remains confident in its ability to sustain profitability. The company also highlighted the recovery efforts from non-performing portfolios and reiterated its focus on mitigating risks to safeguard the company's interests.

Invest Capital expressed its gratitude to the Securities and Exchange Commission of Pakistan, its shareholders, customers, and staff for their support and commitment to the company’s continued progress.