Shams ul Nisa

Jahangir Siddiqui & Co. Ltd. (JSCL) is making strategic investments in the banking, insurance and technology sectors to drive sustainable growth, reports WealthPK.

These strategic investments are also amid at contributing to Pakistan’s broader economic development. The banking sector remains a cornerstone of this strategy, with the company leveraging its expertise to enhance financial services, expand its market footprint and strengthen its position in the industry. Additionally, JSCL is committed to developing innovative products and services tailored to meet the evolving needs of its clients, ensuring greater accessibility and customer satisfaction in the insurance sector.

Moreover, the company is placing a strong emphasis on technology, harnessing digital advancements to improve operational efficiency, optimise processes and enhance overall customer engagement. By focusing on these key sectors, JSCL aims to reinforce its market leadership while continuing to deliver long-term value to its stakeholders. This strategic shift is a key component of the company's broader plan to adapt to the changing economic environment and seize new opportunities.

Meanwhile, according to JSCL’s latest quarterly report, the company reported a net profit of Rs205.65 million for the nine months ended September 30, 2024. Despite a decrease in overall revenues, primarily due to lower dividend income and unrealised losses on equity securities, the company managed to reduce its finance costs by 68.14% during the period under review.

This reduction was achieved as the company fully repaid its outstanding Term Finance Certificates. As Pakistan's economy achieves fiscal consolidation and policy rate continues to decline amid easing inflation, JSCL is optimistic about achieving its objectives by leveraging its expertise and adapting to market changes. Looking ahead, JSCL expects local demand growth and sentiment recovery as disinflation paces up, causing future monetary easing.

The company is also mindful of potential challenges, including fluctuations in electricity and gas tariffs, currency changes, and commodity price volatility. With a diversified investment portfolio and a strategic focus on key sectors, JSCL is set to continue providing value to shareholders while contributing to Pakistan's economic growth.

Credit: INP-WealthPk