The net earnings of the Jahangir Siddiqui Capital Markets Limited (JSCM), during the nine months of the current fiscal year, showed a significant growth, increasing by almost three times, as compared to corresponding period a year ago. The board meeting of JSCM's nine months (July-March 2005) financial results was held on April 20, 2005. Its earnings during the first nine months of the current fiscal year portrayed a massive 254 percent increase to Rs 84 million as against Rs 24 million during the corresponding period last year.
This translates into an EPS at Rs 8.83 as against Rs 3.98 previously. During the third quarter (January-March 2005) the net income at Rs 54 million depicted a substantial 306 percent upsurge, as compared to Rs 13 million previously.
The JSCM is a subsidiary of Jahangir Siddiqui & Company Limited. The company started its formal operations in September 2003. The principal activities of the company are share brokerage, money market and foreign exchange brokerage, equity research, advisory and consultancy services.
It may recalled that the company in its first meeting dated February 24, 2005 had announced a 15 percent interim cash dividend just within the 14 trading days after it got listed on the Karachi Stock Exchange on February 7, 2005, and thereby started reaping benefit for its share holders.
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