786 Investments Ltd Reports Fiscal Year 2024 Results With No Dividends or Share Issuance

Karachi: The Board of Directors of 786 Investments Ltd concluded its meeting on September 18, 2024, in Karachi, announcing no cash dividends, bonus shares, or rights issuance for the fiscal year ended June 30, 2024. The decision comes despite a moderate financial performance detailed in the company’s latest earnings report.

According to information available from the Pakistan Stock Exchange (PSX), 786 Investments Ltd reported a total income of Rs. 65.30 million for the year 2024, a significant increase from Rs. 47.63 million in the previous year. This growth was propelled by notable gains from net realized investments which surged to Rs. 42.92 million up from Rs. 30.83 million.

However, the company faced an increase in administrative and operating expenses, which rose to Rs. 31.82 million from Rs. 29.05 million the year before, alongside higher financial charges of Rs. 3.86 million compared to Rs. 4.64 million in 2023. Despite these costs, the operating profit was reported at Rs. 11.02 million, down from Rs. 13.09 million in the previous year.

The financial statements also highlighted a net unrealized loss on revaluation of investments at fair value through profit or loss, which was significantly higher at Rs. 18.60 million compared to just Rs. 850,290 in 2023.

After accounting for taxation of Rs. 4.25 million, the net profit after tax stood at Rs. 5.66 million, a decrease from Rs. 10.08 million reported in the previous fiscal year. Earnings per share also declined to Rs. 0.38 from Rs. 0.67.

The financial details and reports are part of the official documents annexed with notes from the fiscal review and are intended to provide transparency to shareholders and the market. The company’s performance indicates cautious handling of resources amidst a challenging economic environment with no additional benefits extended to shareholders this fiscal year.

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