Karachi: B.F. Modaraba, managed by E.A. Management (Pvt.) Ltd., reported a profit of Rs. 6.27 million for the financial year ending June 30, 2024. The company’s Board of Directors, in a meeting held on October 3, 2024, reviewed and approved the financial statements for the year, which included a decision not to declare any cash dividend or bonus issue.

According to information available from the Pakistan Stock Exchange (PSX), B.F. Modaraba posted a net profit of Rs. 6.27 million after tax, a reversal from a loss of Rs. 5.99 million in the previous year. The earnings per certificate amounted to Rs. 0.83, compared to a loss per certificate of Rs. 0.80 in FY 2023.

The Modaraba’s operating expenses rose to Rs. 10.24 million, up from Rs. 8.35 million in the prior year, largely offsetting gains in trading income, which reached Rs. 4.49 million. The company’s income from diminishing Musharakah amounted to Rs. 6.73 million. Additionally, other income for the year totaled Rs. 0.34 million, compared to Rs. 0.18 million in 2023.

No cash dividend or bonus shares were declared for the year. The final dividend was set at Re. NIL per certificate, as per the Board’s decision. Furthermore, no right certificates will be issued.

The Annual Review Meeting of B.F. Modaraba is scheduled for October 28, 2024, at Karachi. The certificate transfer books will remain closed from October 22 to October 28, 2024, for the purpose of ascertaining entitlement to transfers. Shareholders can expect the company’s annual report to be transmitted through PUCARS at least 21 days prior to the meeting.