Financial results of Allied Rental Modaraba for Year ended June 30, 2021

Financial Results

Karachi, Allied Rental Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 07, 2021.

The agenda of the meeting was discussion of profit and loss account for Year ended June 30, 2021 which portrayed a profit of Rs. 532,127,372 with earnings per share 2.42 basic and diluted respectively.

Further, 15% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 21, 2021 to October 27, 2021 (both days inclusive).

Allied Rental Modaraba was formed under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the Rules framed thereunder and is managed by Allied Engineering Management Company (Private) Limited (the ‘Modaraba Management Company’), which is a wholly owned subsidiary of Allied Engineering and Services (Private) Limited. The Modaraba is a perpetual Modaraba and is primarily engaged in rental / Ijarah and operation and maintenance of Caterpillar and other equipment (i.e. generators, forklifts, compactors, etc.).

The Company is listed on Pakistan Stock Exchange and quoted the shares. The symbol “ARM” is being used for the shares of the Company

The total number of shares the company has issued are 220,000,000. Earning per Share has decreased in 2020 and is 1.03 compared to 1.74 in 2019. The Profit after Taxation has also decreased in 2020 which is 227,521,000 and it was 382,854,000 in 2019.