Next Capital Limited Reports No Dividends or Bonus Shares; Details Financial Performance for Q1 2024

Karachi, Next Capital Limited announced on April 29, 2024, that its Board of Directors has decided not to distribute any cash dividends, bonus shares, right shares, or undertake any other corporate actions for the period ending March 31, 2024.

For the nine months ending March 31, 2024, Next Capital Limited reported operating revenue of 102,398,256 Rupees, up from 91,577,538 Rupees for the same period in 2023. However, the company faced a significant loss on the remeasurement of investments, recording a loss of 10,321,091 Rupees in the current period compared to a loss of 1,381,038 Rupees in the previous year. Operating and administrative expenses also rose, further impacting the financial health of the company.

The three-month performance ending March 31, 2024, showed operating revenue at 23,354,368 Rupees, down from 28,581,716 Rupees in 2023. The loss before taxation for the quarter was 38,630,050 Rupees, a slight improvement from a loss of 4,972,378 Rupees in the corresponding quarter of the previous year.

The company recorded a net loss of 39,988,330 Rupees for the nine-month period, with a basic and diluted loss per share of 0.70 Rupees. For the three-month period, the loss per share was 0.74 Rupees.

Next Capital Limited plans to transmit its quarterly report for the period through PUCARS within the specified timeframe.