Karachi: Trust Securities and Brokerage Limited has disclosed a striking recovery in its financial performance for the fiscal year ended June 30, 2024, as revealed in the annual audited financial statements approved by the Board of Directors today. According to information available from the Pakistan Stock Exchange (PSX), the firm's transition from a loss to a considerable profit highlights a successful strategic turnaround.

This fiscal year, Trust Securities reported an impressive profit after taxation of 84.00 million Rupees, a significant shift from the 10.27 million Rupee loss recorded in the previous year. This recovery is largely fueled by substantial gains in operational revenue, which surged to 212.00 million Rupees from 141.80 million Rupees in 2023. Notably, gains from the sale of short-term investments contributed 96.96 million Rupees, marking a substantial increase from the prior year's 26.94 million Rupees.

Operational expenses, however, saw a considerable increase to 233.57 million Rupees, rising from 182.00 million Rupees in the preceding year. Finance costs and other charges also escalated, with finance costs growing to 13.51 million Rupees and other charges to 44.21 million Rupees. Despite these increases, the company managed a turnaround, bolstered by other income amounting to 59.05 million Rupees, up from 25.99 million Rupees last year.

The profitability per share has also seen a drastic improvement, with earnings per share climbing to 2.80 Rupees from a loss of 0.34 Rupees per share in 2023. This performance indicator reflects the company's successful financial maneuvers over the fiscal period.

The complete financial statement for the year will be circulated through PUCARS within the stipulated timeline, ensuring transparency and compliance with regulatory requirements.