Karachi: First Imrooz Modaraba has announced that it will conduct a Corporate Briefing Session (CBS) on November 26, 2024, to discuss its financial performance for the year ended June 30, 2024. The session, aimed at certificate-holders and analysts, will be held via a Zoom meeting, with details provided on the PSX web portal.

The Modaraba's operational results for the past five years reveal significant fluctuations in key financial metrics. For the fiscal year 2024, First Imrooz Modaraba reported sales of 1,260.10 million Pakistani Rupees, a decrease from the 1,668.50 million recorded in 2023. Gross profit increased to 268.10 million from 166.80 million in the previous year, indicating a stronger operational performance.

According to information available from the Pakistan Stock Exchange (PSX), other income saw a decline to 0.50 million from 2.90 million, while financial charges rose to 34.10 million from 20.10 million in 2023. Operating expenses slightly increased to 77.10 million from 73.70 million, resulting in an operating profit of 190.90 million, up from 93.10 million in the previous fiscal year.

The profit before tax stood at 138.70 million, with taxation amounting to 66.40 million. This resulted in a profit after tax of 72.30 million, a marked improvement from a loss of 2.70 million in 2023. Profit distribution per certificate was set at 15.00 Rupees, up from 5.00 Rupees last year, reflecting the Modaraba's better financial health.

Earnings per certificate increased to 24.11 Rupees from a negative 0.90 Rupees, indicating a rebound in profitability. The financial briefing is expected to provide further insights into these results and strategic plans for the future.