Karachi: Pak-Gulf Leasing Company Limited reported a slight increase in gross revenue for the financial year ending June 30, 2024, but faced a decline in profitability compared to the previous year. According to information available from the Pakistan Stock Exchange (PSX), the company's financial performance reflected a challenging operational environment.

The company's gross revenue for 2024 reached 281.36 million, up from 262.20 million in 2023. However, the profit before taxation decreased to 142.95 million from 78.82 million in the previous year. The profit after taxation also saw a decline, totaling 78.80 million compared to 56.64 million in 2023.

Despite the revenue increase, the company's net investment in lease finance plummeted to 81.63 million from the previous year's 190.91 million. The total assets slightly decreased to 1,950.52 million from 2,528.85 million in 2023, while total shareholders' equity improved to 815.94 million from 737.47 million.

The earnings per share for 2024 was recorded at 1.59, an improvement from 1.14 in 2023. The company's current ratio also improved to 2.84 from 1.72 in the previous year.

The company did not declare any dividend for the year 2024. The market value per share increased to 8.49 from 5.25 in 2023, reflecting a positive sentiment in the market despite the decline in profitability.

Pak-Gulf Leasing Company Limited continues to navigate a complex financial landscape, with efforts focused on improving operational efficiency and maximizing shareholder value.