KARACHI, April 23: Jahangir Siddiqui Capital Markets Limited (JSCM) has announced a 254 per cent increase in earnings during nine months of the financial year 2004-05. A press release issued by the company said that the earnings during the first nine months of current fiscal year (July-March 2004-05) portrayed a massive 254 per cent increase to Rs84 million, as against Rs24m during the corresponding period last year. That translated into earning per share (EPS) at Rs8.83, as against Rs3.98 in the corresponding period the previous year.

During the third quarter (January-March 2005), net income rose by 306 per cent to Rs54m from Rs13m in the same period last year.

The press release noted that JSCM, a subsidiary of Jahangir Siddiqui and Company Limited, had started formal operations in September 2003. In its first meeting held on February 24 this year, the company had announced an interim cash dividend at 15 per cent, which was within 14 trading days after it was listed at the Karachi Stock Exchange on February 7, 2005.