Karachi: BRR Guardian Limited (BRRGL) disclosed their financial results for the first quarter ending September 30, 2023, in a recent meeting held on October 27, 2023. The Board of Directors, during this meeting, decided against distributing cash dividends, issuing right shares, bonus issues, or taking any other corporate action or price-sensitive information, leaving all these categories marked as -NIL-.

The standalone and consolidated financial results exhibit varied performances in different areas of the business. Under standalone financial results, BRR Guardian Limited reported a rental income of Rs. 74,659,541, compared to Rs. 64,159,551 for the same period in the previous year. The administrative and operating expenses incurred amounted to Rs. 49,729,267, while depreciation and expected credit loss allowance-net stood at Rs. 14,287,324. These led to an operating profit of Rs. 10,642,950, a significant increase from the Rs. 2,806,462 reported in the previous year.

The report also outlined other incomes at Rs. 29,361,561, investment income at Rs. 7,162,574, and finance costs at Rs. 5,551,029. This culminated in a profit before taxation of Rs. 41,616,056 and a profit after taxation of Rs. 31,755,361, resulting in earnings per share (basic and diluted) of Rs. 0.33. In comparison, the previous year’s profit after taxation was Rs. 105,170,713 with earnings per share at Rs. 1.11.

The consolidated financial results also demonstrated a positive turn, with a rental income of Rs. 74,659,541, administrative and operating expenses at Rs. 50,021,095, and depreciation and expected credit loss allowance-net at Rs. 14,287,324. The company reported an operating profit of Rs. 10,351,122, up from Rs. 2,795,962 in the previous year. Other incomes stood at Rs. 29,361,561, investment income at Rs. 8,596,096, and finance costs at Rs. 5,551,329, leading to a profit before taxation of Rs. 42,757,450. The profit after taxation was reported at Rs. 32,896,755, with earnings per share (basic and diluted) calculated at Rs. 0.35. In the prior year, the profit after taxation was Rs. 104,618,281, and earnings per share were Rs. 1.10.

The financial results for both standalone and consolidated statements were accompanied by the notes from 1 to 14, which are integral parts of these condensed interim financial statements. The quarterly report of the company for the period ended September 30, 2023, will be transmitted through PUCARS separately within the specified time.