The companies listed on the Pakistan Stock Exchange (PSX) recorded unprecedented earnings in 2024, offering substantial returns to shareholders, according to the annual research report.
The report highlighted the exceptional performance of PSX-listed firms, which generated record-breaking revenues and profits over the past year. The total income of these companies reached an impressive Rs1,700 billion in 2024, marking a 25% annual increase compared to the previous year.
The banking, fertilizer, and cement sectors emerged as the top performers, posting the highest growth in income. In terms of profit distribution, listed companies gave a staggering Rs666 billion as dividends to shareholders, representing a 30% increase in profit payouts compared to 2023.
The report also revealed that the after-tax profits of the listed companies in 2024 grew by 10%, bringing the total after-tax earnings to $5.8 billion. This strong performance underscores the resilience and growth of Pakistan's corporate sector amid challenging global economic conditions.
Also Read: KSE-100 index witnesses bullish momentum on 'expected' IMF deal
Last week, international organisation Bloomberg recognized the Pakistan Stock Exchange (PSX) as the best market in the world for 2024. This acknowledgment comes at a time when foreign investment in the stock market has surged significantly.
According to the global news organization, the KSE-100 Index of the Pakistan Stock Exchange closed with the highest levels of foreign purchases recorded in a decade. In 2024 alone, foreign investors have bought shares worth an impressive $8.7 million, highlighting a positive trend in both foreign investments and economic indicators within the PSX.
The Pakistan Stock Exchange KSE-100 Index is witnessing a surge. With the IMF's Executive Board scheduled to meet next week to discuss a new bailout package of $7 billion for Pakistan, expectations are high for an increase in dollar inflows into the country.
Also Read: Pakistan Stock Exchange named best in the world by Bloomberg
Meanwhile, on Wednesday, the PSX started the week with a strong bullish trend as the KSE-100 Index showed significant upward movement ahead of the IMF executive board meeting that would decide and consult on the loan package for the Pakistan.
The index surged by 428 points, reaching an all-time high of 81,912 points during intraday trading. The positive sentiment in the market was reflected right from the opening bell, with the index initially climbing by 251 points, trading at 81,735 points.
