Karachi, First Punjab Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on April 08, 2022.
The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for Year ended December 31, 2021 which portrayed a profit of Rs. 10,634,680 and Rs. 14,954,067 with earnings per share 0.31 and 0.44 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from April 22, 2022 to April 29, 2022 (both days inclusive).
FPM was established on July 14, 1992 under Modaraba Companies and Modaraba (Floatation and Control). The Modaraba is a perpetual and multi-dimensional Modaraba and is primarily engaged in the business of Musharikah Financing, Ijarah Financing and other related business in accordance with the injunctions of Islam.
The total number of shares are 34,020,000. The Earnings per share is (1.63) in 2020 which was 0.18 in 2019. The Profit after Taxation of the Company is (55,311,000) in 2020 which was 6,225,000 in 2019.