Karachi: Security Leasing Corporation Limited released its unaudited financial results for the period ending September 30, 2024, reporting a decline in both revenue and after-tax profit compared to the same period last year. The company is also considering measures to reduce institutional debt through discounted settlements with creditors.

According to information available from the Pakistan Stock Exchange (PSX), Security Leasing Corporation’s total assets as of September 30, 2024, stood at PKR 541.39 million, a slight decrease from PKR 541.60 million recorded on June 30, 2024. The company reported total revenue of PKR 4.10 million for the three-month period, down from PKR 3.59 million during the same period in 2023. After-tax profit for the quarter came to PKR 0.82 million, a decrease from PKR 1.17 million earned during the corresponding period last year. The earnings per share for September 30, 2024, is PKR 0.02, compared to PKR 0.03 per share on September 30, 2023.

The Board of Directors has reviewed the company’s financial position and is considering a reduction in institutional debt through discounted payments to creditors. Many creditors have already agreed in principle to such settlements, which the board expects will support the company’s financial stability and growth potential in the upcoming periods.

The board acknowledged the regulatory authorities, lending institutions, management, and staff for their support and commitment to the company’s objectives.