AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Waves Corporation Ltd. (WAVES) conducted an analyst briefing to discuss its financial performance for CY24 and the first nine months of CY25, revealing mixed results and a positive outlook. The company reported a 24% year-on-year decline in net revenue for CY24, but saw a 15% increase in topline for the first nine months of CY25, driven by demand recovery.
WAVES announced earnings of PkR1.1 billion for CY24, a significant increase from PkR257 million recorded in the same period last year. In the first nine months of CY25, earnings reached PkR648 million, more than doubling the PkR282 million reported in the corresponding period last year. The company attributed this growth to substantial other income.
The management emphasized that “Other Income” played a crucial role, largely derived from unrealized gains on real estate holdings and gains from loan restructuring. These gains were strategically booked over time to avoid one-off effects.
WAVES, a holding company, maintains controlling interest in three core businesses, and its management remains optimistic about future prospects.