NIFT takes pride in its operational and financial success.
Since its incorporation in 1995, the Company has displayed
constant growth in service, products and revenue. While
the Company commenced its operation with a basic clearinghouse
function at Karachi, its business activities have now spread
in a number of directions:
The clearing operations have been established
in seven major cities and we intend to propagate to remaining
major cities by end 2005.
NIFT has established a PKI based Certificate
Authority as an affiliate of VERISIGN Inc, USA and WorldeTrust,
Geneva.
Our remittance processing services
are being utilized by three major utility companies in
Pakistan.
Imaging and image archival projects
also constitute a considerable area of business activity.
We have completed a very large project of major archiving
of 6.5 million census forms for National Data Base. We
have also provided image archiving services to the largest
refinery of Pakistan.
Our six year growth is depicted by the following chart.
Projects implemented in 2003 - 04
Nov 2003 - Automation of SSGC Bill Processing
Jan 2004 - Establishment of CA / PKI
Mar 2004 - Implemented Local US $ Clearing
Jun 2004 - Launch of ACH at Hyderabad
Projects for 2004 - 05
Jul 2004 - Automation of SNGPL Bill Processing
Oct 2004 - Launch of ACH at Peshawar
ongoing Establishment of CA / PKI
to initiate Setellite ACH cities
to initiate Electronic Presentment / Truncation
Audited Results as on 30th June
2004.
Paid up Capital + Free Reserves
Rs. 146 million
Fixed Assets
Rs. 110 million
Revenue
Rs. 280 million
Profit before tax
Rs. 65 million
Profit after tax
Rs 39 million
The Company has distributed 30 % of profit after tax as cash
dividends and 20 % of profit after tax as bonus shares.
NIFT FINANCIALS