Karachi, Awwal Modaraba Management Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 28, 2023.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2022 which portrayed a profit of Rs. 23,132,958 with earnings per share 0.23 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Awwal Modaraba has been floated under the Modaraba Companies and Modaraba. The Modaraba is managed by the Awwal Modaraba Management Limited. It is a perpetual, multipurpose and multi-dimensional Modaraba and is primarily engaged in providing Working Capital, Term Finance, Ijarah, Musharika, Morabaha, advisory services and other Shari’ah compliant investment/instrument to credit worthy customers.
The Company was incorporated on June 5, 2014, as a wholly owned subsidiary of Pak Brunei Investment Company Limited (“Pak Brunei”).
The total numbers of shares are 100,000,000. The Earnings per share is 0.41 in 2021 which was 1.03 in 2020. The Profit after Taxation is 41,028,000 in 2021 which was 102,646,000 in 2020.