Karachi: The Board of Directors of EMAN Management (Private) Limited, the Management Company of Orient Rental Modaraba, announced the financial results for the quarter ending September 30, 2024. The board, which convened on October 25, 2024, in Karachi, reported no cash dividends, bonus shares, right shares, or other entitlements for the period.

According to the financial statements, Orient Rental Modaraba's net profit for the quarter rose to 50.34 million rupees, compared to 46.87 million rupees in the same period last year. The basic and diluted earnings per certificate increased to 0.67 rupees from 0.62 rupees in the previous year.

The Modaraba's net revenue from Ijarah rentals and operation and maintenance income reached 588.49 million rupees, up from 484.97 million rupees in the corresponding quarter of the previous year. Operating expenses increased to 437.02 million rupees from 352.79 million rupees, resulting in a gross profit of 151.47 million rupees, compared to 132.18 million rupees last year.

Administrative and marketing expenses decreased slightly to 15.83 million rupees, while other income dropped to 5.62 million rupees. The finance costs for the period were noted at 31.85 million rupees. The company's provisions included Sindh Sales Tax and Sindh Workers' Welfare Fund, amounting to 1.64 million rupees and 1.94 million rupees, respectively.

According to information available from the Pakistan Stock Exchange (PSX), the profit before levies and taxation was reported at 109.41 million rupees, compared to 97.10 million rupees in the previous year. The taxation for the quarter was 35.22 million rupees, resulting in a net profit of 50.34 million rupees.

Despite the increase in profit, the board did not recommend any corporate actions or entitlements to shareholders. The complete financial statements and additional details are enclosed in the financial report annexure provided by the company.