Karachi: Security Leasing Corporation Limited has announced an improved financial performance for the fiscal year ended June 30, 2024. The company recorded a significant increase in its annual profit, marking a strong year of financial results. The total revenue from contracts with customers increased to 15.56 million, up from 13.12 million in the previous year. This growth was primarily driven by operating leases, which contributed substantially to the revenue stream.

Administrative and selling expenses totaled 14.32 million, a decrease compared to 16.57 million reported last year, indicating improved efficiency in expense management. The operating profit stood at 1.24 million, recovering from a negative figure of 19.84 million in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the company's other operating income also saw a significant rise, reaching 18.01 million compared to 2.45 million in the previous year. Despite a minimal finance cost, the profit before income tax surged to 19.24 million from a loss of 20.85 million last year.

The company reported a net profit of 15.97 million, a substantial recovery from a net loss of 21.04 million in 2023. This improvement in profitability translated into earnings per share, which increased to 0.44 from a loss per share of 0.58.

Security Leasing Corporation Limited's financial recovery is evident in its latest earnings report, reflecting robust operational improvements and effective cost control measures throughout the fiscal year.