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

Financial Results

Karachi, Orient Rental Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 24, 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. 156,465,242 with earnings per share 2.09basic and diluted respectively.

Further, 10% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 19, 2021 to October 26, 2021 (both days inclusive).

The Orient Rental Modaraba (ORM) is a multi-purpose and perpetual Modaraba. It was formed by spinning off two of the core divisions, generator rental and operation & maintenance, of Orient Energy Systems (OES). The OES is owned by the major sponsors of ORM.

The total numbers of shares are 75,000,000. The Earnings per share is 0.40 in 2020 which was 1.37 in 2019. The Profit after Taxation is 30,305,000 in 2020 which was 102,735,000 in 2019.