Karachi: Pervez Ahmed Consultancy Services Limited (PACS) has announced a significant turnaround in its financial performance for the first quarter ending September 30, 2024. The consultancy firm reported a profit of Rs. 175.00 million, a stark contrast to the loss of Rs. 64.82 million recorded during the same period last year.

The financial rebound is primarily attributed to profitable shares from associates and streamlined operations despite limited activity. The company emphasized that continuous managerial efforts are focused on enhancing operational viability and profitability.

According to information available from the Pakistan Stock Exchange (PSX), the company's performance is indicative of broader economic trends. Inflation rates have dipped to an average of 9.2% from 13.9% in the preceding quarter, driven largely by declining global oil prices and reduced food inflation. In response, the State Bank of Pakistan (SBP) has decreased the policy rate by 300 basis points to 17.5%. Additionally, the yields on government securities have seen a significant drop, reflecting an optimistic inflation outlook and improved government liquidity.

Looking ahead, PACS outlines a cautiously optimistic future, underpinned by the continued support of the International Monetary Fund (IMF) program, which is deemed crucial for maintaining macroeconomic stability. The primary challenge remains achieving the set fiscal targets, but the policy focus is expected to gradually shift from stability to growth.

The Board of Directors expressed gratitude towards shareholders for their trust, clients for their business, the Securities and Exchange Commission of Pakistan, and the management of the Pakistan Stock Exchange for their ongoing support and guidance.