Karachi: OLP Modaraba (OLPM) has posted a robust net profit of PKR 157.737 million for the fiscal year ending June 30, 2024, marking a significant year-over-year increase and reflecting a resilient performance despite economic challenges. The announcement came during the 25th Annual Review Meeting of certificate holders, where a 20% cash dividend was also declared.

The Modaraba's financial year highlighted a concerted push towards expanding its Shariah-compliant financing services across Pakistan, with total assets now standing at PKR 7.738 billion, an increase of 13.39% over the previous year. According to information available from the Pakistan Stock Exchange (PSX), this growth is supported by an increase in gross revenue by 28.28% to PKR 1643.25 million compared to the last year, driven by proactive client engagement and an expansion of its product offerings.

During the year, OLP Modaraba also made fresh disbursements totaling PKR 3.198 million, focusing on lucrative sectors and maintaining a conservative risk profile, which contributed to a stable profit before taxation which saw a boost of 22.64% to PKR 228.63 million.

Operational enhancements and strategic investments in technology also played a crucial role in sustaining growth. The Modaraba's commitment to leveraging financial technology to improve service delivery and customer satisfaction has been integral to its strategy.

Looking forward, OLPM plans to continue capitalizing on emerging market opportunities while adhering to its principles of Islamic finance. The management remains optimistic about the Modaraba's growth trajectory and its role in fostering economic stability through Shariah-compliant financial solutions.